MANILA, Philippines – The Philippines has secured a credit rating upgrade from a Malaysian debt watcher, which applauded the country's fast economic growth, increasing foreign investments and economic reforms. A credit rating gauges a country's capacity to service its debts. In upgrading the country, RAM cited the Philippines' strong economic growth as reason for the upgrade. Finance Secretary Carlos Dominguez welcomed the latest credit rating upgrade. BSP Governor Nestor Espenilla Jr. also said the positive credit rating action is an "acknowledgment of sound governance on both the financial and monetary fronts."

Source: Philippine Star August 30, 2018 13:07 UTC