Debt watcher affirms the country’s above-minimum grade of BBBStandard and Poor’s (S&P) Global Ratings affirmed the Philippines’ investment grade rating on the back of the country’s strong external position. But the Duterte regime’s bloody war on drug crimes is threatening the economy and the country’s investment rating, the debt watcher warned. The sovereign rating of BBB is a notch higher than the minimum score for an investment grade. The central bank said “structural and sound policy reforms” implemented by the past administrations helped the Philippines keep its investment grade rating. Meanwhile, Finance Secretary Carlos Dominguez 3rd noted S&P’s decision to maintain the Philippines’ “BBB” rating and “stable” outlook as favorable news.

Source: Manila Times September 21, 2016 16:52 UTC