Philippines gets JCR upgrade, nears top "A" credit rating

The Philippines is reaping what it has sowed and  it will benefit the whole country in the future, thanks to the Duterte administration’s massive infrastructure development through its BUILD BUILD BUILD projects and boosting of revenues through tax reforms.

Japan Credit Rating Agency Ltd. (JCR)just gave the Philippines an outlook upgrade nearing its first ever A credit rting from its previous stable rating, it is now already at a positive rating.

This would mean the country will be a step away from securing a single-A rating from Japan Credit Rating Agency Ltd. (JCR).

This means the Philippines is now only a step away from securing a single-A credit rating from the Japanese debt watcher.                                                                                             (Photo credit to Philstar)

This is the second outlook upgrade for the country after receiving a positive outlook from S&P Global Ratings in April last year.

A single A credit rating will place the Philippines on the radar screen of even more portfolio investors, given that some institutional investors  are picky in the country where they would like to invest most specially if  bonds issued by A-rated sovereigns or corporate entities.

Bangko Sentral ng Pilipinas (BSP) Governor Benjamin Diokno said the central bank would continue to provide an enabling environment for sustainable, robust, and more inclusive economic growth by staying committed to its price and financial stability mandates.

“The Philippines’ robust economic growth is sustainable over the long haul, in part because of the BSP’s commitment to maintain price stability and the soundness of the banking and financial system,” Diokno said.

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Report from    PhilStar