Lawrence Agcaoili – The Philippine Star
May 23, 2023 | 12:00am
Ortigas Business District as seen from Quezon City on May 13, 2023.
STAR / Michael Varcas
MANILA, Philippines — Debt watcher Fitch Ratings has upgraded the credit rating outlook of the Philippines from negative to stable due to improved confidence that the country is returning to strong medium-term growth after the COVID-19 pandemic.
At the same time, it noted sustained reductions in government debt that substantially increased in recent years.
Fitch retained the country’s credit rating at BBB or a notch above minimum investment grade. A stable outlook means