The Canadian PressMay 2, 2013 06:30
MANILA, Philippines - MANILA, Philippines (AP) — Standard
The upgrade reflects a "strengthening external profile, moderating inflation, and the government's declining reliance on foreign currency debt," S
Fitch Rating's gave the Philippines its first-ever investment grade rating in late March, citing the country's current account surplus and status as a creditor nation.
Presidential spokesman Edwin Lacierda said the upgrade indicates sustained confidence in the Philippine economy, which grew 6.6 per cent last year.