Fitch Ratings’ affirmation of its ‘BBB’ investment grade rating with stable outlook for the Philippines’ is expected to attract more investments given the country’s improved fundamentals.
In a reply to e-mailed questions from PNA, Rizal Commercial Banking Corporation chief economist Michael Ricafort said the latest affirmation of the country’s credit rating defies “the adverse economic effects of the Covid-19 pandemic that led to downgrades in the outlook and credit ratings of other countries around the world.”