Fitch: PH economy supports credit ratings

ABS-CBN News

Posted at Nov 19 2014 11:00 AM | Updated as of Nov 19 2014 07:00 PM

 

MANILA, Philippines - Debt watcher Fitch Ratings says the Philippines' sustained economic growth will support its credit ratings.

Fitch says the Philippines' ratings are anchored by a resilient economy, supported by a steady inflow of OFW remittances and a credible monetary policy framework.

But Fitch says low income and poor governance are the country's weaknesses.

Fitch lifted the Philippines' rating to investment grade status in March 2013 and maintained it early this year.

An investment grade rating makes it cheaper for the Philippines to borrow money abroad. - ANC