by Prinz Magtulis, Philstar.com - The Philippines is the “most underrated country in the world†but any upgrade would have to wait until “significant momentum†in revenue generation and debt reduction is sustained, Moody’s Investors Service said.
Moody’s bond-implied ratings showed the country being rated by the market at Baa1, an investment grade and four notches above Moody’s Ba2 rating for the Philippines.
Bond-implied ratings show the market’s pricing and treatment of a country’s bonds in relation to its actual rating from a particular credit rating agency.
“The markets have already voted the Philippines as an investment grade rating. As you can see, credit rating agencies are now behind the curve,†Bangko Sentral ng Pilipinas (BSP) Deputy Governor Diwa Guinigundo said during the BSP’s annual media seminar held here.
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