SKorean debt watcher raises PH credit rating

The Philippines has secured another credit rating upgrade, this time from South Korean-based NICE Investors Service that cited governance reforms and an intensified infrastructure development campaign.

The country’s rating was raised a notch from the minimum investment grade of BBB- to BBB. NICE said this was anchored on “improved government transparency as well as [an] enhanced environment backed by expanded infrastructure and social overhead capital in the form of public-private partnerships.”