Good news naman...
MANILA, Philippines—The Philippines has obtained its highest credit rating in history in recognition of the reforms undertaken by the Aquino administration which have allowed the country to outperform its Southeast Asian neighbors in terms of economic growth.
Standard & Poor’s (S&P) on Thursday announced a fresh rating upgrade for the Philippines’ long-term peso and dollar bonds.
From the previous rating of “BBB-,†S&P now rates the Philippines at “BBB,†one notch above minimum investment grade.
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http://business.inquirer.net/170026/ph-credit-rating-upgraded#ixzz31BVG5mqD