This might help stabilize the market tomorrow. Moodys upgrades Philippines to Baa2, outlook stable Dec 11 (Reuters) - Moodys Investors Service upgraded its rating on the Philippines by one notch to Baa2 from Baa3 with a stable outlook, citing a decline in the Philippines debt burden and structural improvements in fiscal management. While we expect other measures related to the countrys public indebtedness and debt affordability to improve over the next two years, the corresponding peer medians continue to erode, Moodys said in a note. (bit.ly/1zSHBWn) Moodys said that continued favorable prospects for strong economic growth and limited vulnerability to the common risks currently affecting emerging markets were also key drivers to the upgrade. (Reporting by Supriya Kurane in Bengaluru; Editing by Jacqueline Wong)
Posted on: Thu, 11 Dec 2014 08:50:36 +0000
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