Finance Secretary Ralph Recto welcomed Fitch Ratings’ recent affirmation of the Philippines’ “BBB” credit rating with stable outlook.
“This affirmation is highly encouraging as it shows a strong vote of confidence in our ability to grow the Philippine economy in a higher path over the medium term,” Recto said in a statement.
“As I have said before, any rating affirmation or upgrade is a major win for all Filipinos as this means that the Philippines can have more access to cheaper financing from global capital markets. A better credit rating will help us create more jobs and reduce the poverty rate,” he said.
The Philippines’ high credit rating sends a signal of confidence to investors and creditors, resulting in lower interest rates and better returns for Philippine bonds, he said.
It also attracts more foreign investments into the country, which will create better employment opportunities for Filipinos.
