The Philippines’ macroeconomic risk profile has deteriorated to its worst level in a decade, leaving the country increasingly vulnerable to global shocks as its Southeast Asian neighbors outpace it in fiscal health. According to the latest emerging markets macro risk analysis by DBS Bank, which...
Philippine Airlines (PAL) secured a stable outlook and its first-time “BB” credit rating from Fitch Ratings, indicating the flag carrier maintains enough financial flexibility to withstand severe global headwinds and capacity constraints In a June 11 commentary, Fitch said the non-investment...
Global debt watcher Fitch Ratings has lowered its outlook on the Philippine banking system to “deteriorating,” warning that exposure to the ongoing United States (US)-Iran war could dampen lending activity, raise credit costs, and squeeze profitability. Fitch wrote in a June 8 commentary that...
Global debt watcher Fitch Ratings expects Philippine banks to face increasing costs as they write off unpaid debts and prepare for future losses while navigating an increasingly uncertain geopolitical and economic environment caused by the Middle East war. This outlook comes even as the Bangko...
Samarkand, UZBEKISTAN — The Asian Development Bank (ADB) said central banks should be cautious about raising interest rates too quickly in response to supply shock-driven inflation, even as the Bangko Sentral ng Pilipinas (BSP) is now widely expected to tighten monetary policy further after April...
State-run Land Bank of the Philippines (Landbank) said the reason debt watcher Fitch Ratings opted to retain the government financial institution’s (GFI) ‘BBB’ investment rating was its sound fundamentals and solid governance. “Our investment-grade rating was affirmed because our...
Bangko Sentral ng Pilipinas (BSP) Governor Eli M. Remolona Jr. remains upbeat that the Philippines can clinch a coveted ‘A’ credit rating within the Marcos administration’s term, provided external pressures subside. “That’s still possible,” Remolona told reporters last week when asked...
British banking giant Barclays has maintained its “underweight” rating on Philippine sovereign debt, following Fitch Ratings’ decision to downgrade the country’s credit outlook to ‘negative’ amid mounting fiscal and growth concerns. In an April 20 report obtained by Manila Bulletin,...
Bangko Sentral ng Pilipinas (BSP) Governor Eli M. Remolona Jr. vowed to continue implementing measures to keep inflation under control and support sustainable economic growth, following Fitch Ratings’ reaffirmation of the country’s BBB credit rating. “The BSP took actions to help keep...
The Philippines maintained its investment-grade credit rating from London-based Fitch Ratings due to strong medium-term growth prospects despite some structural weaknesses. In a statement, Fitch Ratings said on Tuesday, April 29, that it affirmed the Philippines' long-term foreign-currency issuer...
Debt-watcher Fitch Ratings has raised its global growth forecasts for this year due to improved confidence in recovery prospects. In its latest Global Economic Outlook released on Tuesday, June 18, Fitch said it raised its global gross domestic product (GDP) outlook to 2.6 percent from 2.4 percent...
Finance Secretary Ralph G. Recto said the recent affirmation of the Philippines’ investment-grade credit rating by Fitch Ratings would attract more foreign investments into the country. In a statement on Monday, June 10, Recto said he welcomed Fitch’s decision to maintain the country’s...
