The Philippines’ economic managers on Tuesday moved to reassure investors that the government was moving to address perceived weaknesses in its coronavirus pandemic response that prompted Fitch Ratings to lower the country’s outlook from ‘stable’ to ‘negative’.
According to the international debt watcher, the country faces downside risks and “possible challenges associated with unwinding the exceptional policy response to the health crisis and restoring sound public finances as the pandemic recedes.”
At the same time, however, the ratings agency maintained the Philippines’ credit standing at ‘BBB,’ which is one notch above the minimum investment grade — a level it has held since D…
Keep on reading: Gov’t moves to shore up PH credit rating after Fitch cuts outlook to ‘negative’