The prime mover of Charter change (Cha-cha) in the current 19th Congress welcomed on Friday, March 10 a report by financial information firm Fitch Solutions that supposedly highlighted the need for the Philippines to undergo constitutional revision. Cagayan de Oro City 2nd district Rep. Rufus...
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 research arm of credit rater Fitch Group has maintained its bearish stance on the Philippine peso, as it expects the local currency to even weaken as accommodative policy stances and a worsening current account weigh on the local currency. In a research note on Friday, Jan. 14, Fitch Solutions...
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...
Former Stallion players Jhan-Jhan Melliza (right) and Fitch Arboleda are joining Kaya-Iloilo for the AFC Champions League preliminary round and the PFL season. (Photo from PFL) Kaya-Iloilo officially signed former Stallion-Laguna mainstays Fitch Arboleda and Jhan-Jhan Melliza ahead of its domestic...
Credit watcher Fitch Ratings said Philippine banks’ viability ratings (VRs) are vulnerable to downgrades if the economy fails to lift off this year, resulting to further deterioration of assets and loan quality amid a weak operating environment. “We see more prominent risks of a VR downgrade...
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...
