MANILA, Philippines — A Japan-based agency has affirmed the Philippines’ credit rating on the back of stable financial system and positive economic outlook, as well as “diminishing” risk of diplomatic ties dampening the economy under the Duterte administration. In a statement, Research & Investment (R&I) Rating Inc. on Tuesday kept the Philippines’ foreign currency issuer rating at “BBB” — a notch above minimum investment grade — with a “stable” outlook. "If managed within the target range of 2-4%, however, inflation will not be a drag on the economy, in R&I's view. Credit ratings are a measure of a country’s willingness and ability to pay debts as they fall due. Debt watcher Fitch Ratings last week announced it has upgraded the Philippines’ sovereign credit rating to “BBB” from the minimum investment grade of “BBB-” due to sustained macroeconomic fundamentals and strong investor confidence in the country.

Source: Philippine Star December 19, 2017 10:41 UTC