Moody’s upgrades PH a notch to Baa2

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The Philippines received another credit rating upgrade from Moody’s Investors Service on Thursday, with the outlook stable.

Moody’s said the Philippines’ credit rating rose one notch to Baa2 from Baa3.

The global ratings agency said it based its decision on the country’s ongoing debt reduction, aided by improvements in fiscal management; continued favorable prospects for strong economic growth, and limited vulnerability to the common risks currently affecting emerging markets.

MAYVELIN U. CARABALLO REPORTER

mc/nt

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