S&P unlikely to upgrade PH credit ratingsDebt-watcher Standard and Poor’s (S&P) said yesterday that the Philippines is unlikely to secure higher credit ratings in the next two years amid uncertainties surrounding the stability, predictability, and accountability of the Duterte administration. S&P 500 logo ( courtesy of www.marketspress.com)The S&P Global Ratings, one of three major international credit rating agencies, noted that the Philippine government’s stability and predictability in policymaking have “diminished somewhat” following President Rodrigo R. Duterte’s controversial pronouncements. Meantime, BSP Governor Amando M. Tetangco Jr. also gave a statement on the latest rating decision by S&P. The country’s strong economic fundamentals offset the weaknesses driving by perceived changes in foreign policy and national security under the Duterte administration, the rating agency noted. However, S&P believes that the new administration will broadly continue with the fiscal and economic development policies of the Aquino administration.

Source: Manila Bulletin September 21, 2016 14:21 UTC