Fitch retains PH’s BBB rating, stable outlook

Fitch Ratings on Monday retained the Philippines’ investment grade credit rating of BBB with stable outlook, citing the country’s manageable fiscal situation despite the impact of the coronavirus disease 2019 (Covid-19) pandemic.

“The affirmation of the Philippines’ ‘BBB’ rating and Stable Outlook balances modest government debt levels relative to peers, robust external buffers and still-strong medium-term growth prospects, notwithstanding the deep pandemic-induced economic contraction, against relatively low per capita income levels, and indicators of governance and human