Philippines Wins First Investment Grade (after so many years)

[CVT]

Now, irrespective of who is in power,- this is definitely a good news for the country......

Philippines Wins First Investment Grade as Aquino Spurs Growth - Bloomberg

Philippines Wins First Investment Grade as Aquino Spurs Growth

By Karl Lester M. Yap - Mar 27, 2013 2:57 PM GMT+0800

The Philippines achieved investment grade for the first time as Fitch Ratings raised its assessment, rewarding President Benigno Aquino for leading a growth resurgence after lagging its regional peers for decades.
The rating on the nation’s long-term foreign currency- denominated debt was raised one level to BBB- from BB+, Fitch said in a statement today. The outlook on the rating is stable.
“The Philippines’ sovereign external balance sheet is considered strong relative to A range peers, let alone BB and BBB category medians,” Fitch said, citing the net external creditor position.
An exit from so-called junk status bolsters Aquino’s drive to transform the nation into one of the region’s fastest-growing economies 15 years after the Asian financial crisis of 1997-98. The upgrade may also boost capital inflows and complicate the job of the central bank as it tries to rein in an appreciating peso and curb asset bubbles.
“Funds are already pouring into the Philippines and an investment grade is a further endorsement,” Eugene Leow, a Singapore-based economist at DBS Group Holdings Ltd., said before the report. “It allows a wider pool of investors to buy Philippine assets and there might be a slight bump up in inflows. The central bank has been sounding off on inflows and they could implement measures to deter speculative inflows.”
The Philippine Stock Exchange Index (PCOMP) surged to a record in March and the peso is trading near a five-year high.
To contact the reporter on this story: Karl Lester M. Yap in Manila at kyap5*bloomberg.net
To contact the editor responsible for this story: Stephanie Phang at sphang*bloomberg.net

18.6K:grin2:

[shadow]

let the naysayer downplays it again...

[erobles]

Tamiiiiis! Kaya pala bigla taas ng stocks kanina eh.

Sent from my Lenovo P700i using Tapatalk 2

[shadow]

ilang points ibababa ng interest rate?

[greenlyt]

kasalanan lahat yan ni Pnoy

[ghosthunter]

PH corruption still ranks high in the world.

PH is also one of the more expensive places to setup a business. So much red tape.

Heck even just sending a personal package from abroad to the PH will result in your wallet getting raped.

[roninblade]

PH corruption still ranks high in the world.

PH is also one of the more expensive places to setup a business. So much red tape.

Heck even just sending a personal package from abroad to the PH will result in your wallet getting raped.

i usually agree with most of your posts dude, but you can't expect miracles. generations of corruption can't be turn around in less than 3 years. let's keep one eye on the goal and take it one step at a time.

[Ry_Tower]

Good news indeed.






























Until the anti-whatever guys show up.

[Syuryuken]

abangan ko nga say ng mga leftist ng tsikot

[vinj]

PH corruption still ranks high in the world.

PH is also one of the more expensive places to setup a business. So much red tape.

Heck even just sending a personal package from abroad to the PH will result in your wallet getting raped.

Agree here. We will have even much more longer lasting economic benefits if corruption and red tape is seriously dented and dealt with at all levels of the bureaucracy. That however, i cannot say how long it will take as it's still very much alive and kicking.

abangan ko nga say ng mga leftist ng tsikot

Hindi naman daw si Pnoy yung gumawa nyan. Dahil daw yan sa mga taong nag-rally araw-araw. :D