Author Topic: Phl expected to bag first investment grade rating in 12-18 mos  (Read 1040 times)

0 Members and 1 Guest are viewing this topic.

AdGeek

  • Hero Member
  • *****
  • Posts: 660
  • Karma: +1/-0
    • View Profile
Manila, Philippines - The Philippines is seen to bag its first investment grade rating in history in the next 12 to 18 months as solid fundamentals continue to work on its favor, Barclays said in a report.

“Our base case is for the Philippines to receive its first investment grade rating in the next 12-18 months, although it may take a little longer for it to receive such a rating from two out of the three main agencies,” Barclays said in the report titled “Philippines: The Rising Star.”

Standard & Poor’s Rating Services last Wednesday upgraded the country’s debt to BB+, one notch below investment grade and at par with that given by Fitch Ratings last year. Moody’s Investors Service, meanwhile, rates the Philippines at two notches under investment grade.
Barclays said the Philippines sovereign credit rating is in a “positive trajectory.”

“After Indonesia received investment grade ratings, the market’s focus turned to the Philippines as the next potential candidate in Asia,” the investment bank said.

It pointed to recent developments such as the passage of laws strengthening the fight against money laundering, contained budget deficit, moving public-private partnership (PPP) projects and a manageable inflation as reasons for its optimism.

Political stability was also noted with the report, claiming President Aquino III remains “popular and has a strong mandate,” following the conviction of former Supreme Court Chief Justice Renato Corona.

“With this case out of the way, we believe the government can focus on addressing key areas, such as infrastructure (through PPPs), and passing important legislation, such as fiscal incentive rationalization, “sin” taxes and progress on privatization,” Barclays said.
The government is pushing for the passage of the bills that will increase taxes on tobacco and liquor products as well as rationalize incentives to generate more revenues. Both bills are now slated for discussion once Congress opens its new session on July 23.
Still however, the national government’s five-month budget deficit remains far below the P109.341-billion ceiling for the first half, hitting only roughly P23 billion, with revenues rising by 11 percent during the period.

Meanwhile, Barclays said “foreign interest in PPP projects has increased.”
“In line with our expectations, the administration’s public-private partnership (PPP) program, worth an estimated P200 billion is gaining momentum, marking another improvement in the overall investment climate,” it explained. - By Prinz P. Magtulis (Philstar News Service, www.philstar.com)


PesoRepublic.com | Your smart guide to money matters and entrepreneurship.


Mountain View

PinoySpecialist

  • Full Member
  • ***
  • Posts: 133
  • Karma: +0/-0
    • View Profile
Re: Phl expected to bag first investment grade rating in 12-18 mos
« Reply #1 on: July 08, 2012, 06:45:14 PM »
Maganda ang naging simulain ni pinoy para sa tuwid na daan at ito'y nagbubunga naman ng maganda,kami mga OFW ay bumabati sa iyo at proud na ipagmalaki ka namin dito sa gitnang silangan bilang amin presidente. At kami mga OFW ay nakahandang tumulong sa iyong administration by means of a dollar contribution provided na may transparency policy ang gobyerno. sapagkat nawalan na kami ng tiwala sa mga nagdaan administration na lumustay sa pera ng pilipinas at nanggahasa sa inang bayan..Mabuhay ka PInoy!!!! sana and susunod na presidente sa iyo ay katulad mo rin na tuwid ang daan.

IntraLover

  • Sr. Member
  • ****
  • Posts: 338
  • Karma: +0/-0
    • View Profile
Re: Phl expected to bag first investment grade rating in 12-18 mos
« Reply #2 on: July 08, 2012, 06:49:31 PM »
Philippines: The Rising Star of Asia...ang sarap naman pakinggan...
Despite the crisis in Europe and slowdown of U.S. economy ay di natitinag ang ekonomiya ang Pinas...instead, ang mga investors nila unti unti nang nagsipaglipatan sa SouthEast Asia at kasama ang Pilipinas sa kanilang target haha...Yez!!

GreenMoney

  • Living a green body in an ungreen world
  • Sr. Member
  • ****
  • Posts: 466
  • Karma: +0/-0
    • View Profile
Re: Phl expected to bag first investment grade rating in 12-18 mos
« Reply #3 on: July 08, 2013, 02:52:23 PM »
sana nga magtuloy tuloy na ang pag unlad ng ating bansa

PesoRepublic.com | Your smart guide to money matters and entrepreneurship.

Re: Phl expected to bag first investment grade rating in 12-18 mos
« Reply #3 on: July 08, 2013, 02:52:23 PM »

 

Related Topics


Posting Disclaimer: Any individual may post a message in this forum and may do so anonymously. Therefore, the sole author is exclusively and entirely responsible for all opinions in that message. They do not represent the official opinions of PesoRepublic , its administrators or moderators or the PesoRepublic Management. PesoRepublic is merely acting as an impartial conduit for constitutionally protected free speech and is not responsible and will not be held liable for the content of such messages. Community & Groups - Top Blogs Philippines