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...
Budget Secretary Amenah F. Pangandaman has lauded Fitch Ratings' recent decision to maintain the Philippines' investment grade rating at “BBB,” above the minimum investment grade by a notch and maintaining a stable “outlook.” Pangandaman, chairperson of the inter-agency Development Budget...
House Speaker Martin Romualdez (left) and President Ferdinand "Bongbong" Marcos Jr. "An unequivocal vote of confidence" in the Marcos administration's socioeconomic agenda. That's how House Speaker Martin Romualdez described Fitch Ratings’ revision of its credit outlook for the Philippines’...
Debt-watcher Fitch Ratings expects the ratio between the country’s economic output and the government’s budget deficit would remain above its pre-pandemic levels next year. Fitch Ratings said the government’s fiscal deficit-to-gross domestic product (GDP) ratio, a closely watched indicator of...
The Philippine economy is seen to expand to over 7 percent in the next few years as forecast by global credit rating firms, Malacañang announced on Friday, Feb. 18. (Jansen Romero / MANILA BULLETIN) Citing the recent report from S&P Global Ratings, Cabinet secretary and acting presidential...
The infighting within the the ruling party, Partido Demokratiko Pilipino-Lakas ng Bayan (PDP-Laban), may disrupt the government’s policymaking at the height of a pandemic-induced crisis, Fitch Solutions said. In a commentary published by Fitch Solutions on Monday, Sept. 13, the research group...
The adverse impact of the prolonged pandemic will be short-lived, the government’s chief economic manager and the central bank governor said after Fitch Ratings downgraded the Philippines’ outlook to negative. BSP Gov. Benjamic Diokno and Finance Sec. Carlos Dominguez III Finance Secretary...
Fitch Ratings has revised the Philippines’ outlook to “Negative” from “Stable” due to the national government’s weakening fiscal finances brought about by the prolonged coronavirus pandemic. Fitch Ratings Building In a statement released Monday evening, July 12, the London-based credit...
COVID-related hits on local banks’ asset quality will critically affect their stand-alone credit profiles and viability ratings (VR), said Fitch Ratings. The credit watcher echoed what it said last March that big banks are vulnerable to VR downgrades as the economy remains weak resulting to banks...
Fitch Ratings has lowered its GDP growth forecast for the Philippines to 6.3 percent this year from its previous estimate of 6.9 percent as it sees a tempered recovery due to limited fiscal space. However based on its latest “APAC Sovereign Credit Overview” for the second quarter, Fitch expects...
The local stock market declined as investors continue pocketing gains following the previous day’s spike. The main index dropped 46.68 points or 0.64 percent to close at 7,258.11 with all sectors retreating. Volume dipped to 41.52 billion shares worth P9.74 billion as losers beat gainers 144 to...
One of the three major international debt watchers has kept the Philippines’ investment grade credit rating due to the nation's manageable fiscal situation despite the coronavirus-induced recession. Fitch Ratings said that the growth prospects in the Philippines remain favorable, particularly...
