The Department of Finance (DOF) said Friday that the Japan Credit Rating Agency (JCR) has affirmed the Philippines’ investment-grade credit rating with a stable outlook despite a high inflation environment and global uncertainties.
The Department of Finance said Friday that the Japan Credit Rating Agency has affirmed the Philippines’ investment-grade credit rating with a stable outlook despite a high inflation environment and global uncertainties.
Citing a report by the JCR, released March 10, the DOF said the Japanese debt watcher affirmed the country’s “A-“ rating. A credit rating of “A-“ with a stable outlook indicates lower credit risk and entails better access to the international bond market and favorable interest rates. The Finance Department said such a rating increases investor confidence in the country, which may lead to more foreign direct investments .“The affirmation confirms the country’s strong macroeconomic fundamentals, as evidenced by the strong growth performance in 2022 at 7.6% that exceeded the 6.5 to 7.5% growth assumption of the Development Budget Coordination Committee ,” the DOF said.
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