BSP: Moody’s credit rating affirmation to support economic recovery

MOODY’S affirmation of the Philippines’ investment-grade credit rating of “Baa2” with a “stable” outlook will support the sustained recovery of the domestic economy, Bangko Sentral ng Pilipinas (BSP) Gov. Felipe Medalla said.In a statement on Saturday, Sept. 17, 2022, Medalla welcomed Moody’s recognition of the country’s well-capitalized banking system, which continues to provide the funding […]

Moody’s affirms PHL credit rating   

MOODY’S INVESTORS SERVICE on Thursday kept the Philippines’ “Baa2” credit rating with a “stable” outlook, as economic recovery is unlikely to be hampered by “challenging global credit conditions.” In a statement on Thursday, the credit rater affirmed the country’s long-term local and foreign currency issuer and senior unsecured ratings at “Baa2.”    “The rating action […]

Country’s debt-to-GDP ratio rose the most in 2 years, says think tank

THE PHILIPPINES and Thailand saw the biggest rise in government debt-to-gross domestic product (GDP) ratios in the world from end-2019 to end-2021, Moody’s Analytics said in a report on Thursday. In a commentary “Global Debt: Asia’s High Debt-to-GDP,” Moody’s Analytics said debt-to-GDP ratios in the Asia-Pacific region are still above pre-pandemic levels. “Thailand and the […]

Moody’s keeps stable outlook for Philippine banking system

MOODY’S Investors Service kept its stable outlook for the Philippine banking system as their operating environment is expected to benefit from the reopening of the economy, but soured loans that remain above pre-pandemic levels will continue to pose risks. Amid better economic conditions, Moody’s said banks’ profitability is seen to improve as loan loss buffers […]

ASEAN growth seen rebounding after strictly enforced lockdowns

SOUTHEAST ASIA’S stunted growth momentum due to the severity of its lockdowns will be temporary because of its critical role in global supply chains, which will allow it to eventually close the gap with regions that remained relatively open like Latin America, Moody’s Analytics said. Moody’s Analytics noted that strict lockdowns in Southeast Asia have […]

Goldman Sachs buoyed over Moody’s upbeat recovery prospects for PH

GLOBAL investment firm Goldman Sachs has expressed confidence over the Philippines’ resilience and strong positioning against its credit rating peers in recovering from the pandemic damage, on the back of the country’s low debt burden, expected current account surplus and projected robust and sustainable growth rebound over the next two years. It said Moody’s Investor […]

Philippines may face ‘deep scarring’ from pandemic — Moody’s

The Philippines may face “deep scarring” or long-lasting economic losses due to the prolonged pandemic, Moody’s Investors Service said on Friday.   “Many have been challenged to contain the pandemic, such as Peru, the Philippines  and India, heightening uncertainties around the effective reopening of their economies amid new waves of the virus since the start of the year,” […]