Philippines Wins First Investment Grade (after so many years)

[CVT]

Now, irrespective of who is in power,- this is definitely a good news for the country......

Philippines Wins First Investment Grade as Aquino Spurs Growth - Bloomberg

Philippines Wins First Investment Grade as Aquino Spurs Growth

By Karl Lester M. Yap - Mar 27, 2013 2:57 PM GMT+0800

The Philippines achieved investment grade for the first time as Fitch Ratings raised its assessment, rewarding President Benigno Aquino for leading a growth resurgence after lagging its regional peers for decades.
The rating on the nation’s long-term foreign currency- denominated debt was raised one level to BBB- from BB+, Fitch said in a statement today. The outlook on the rating is stable.
“The Philippines’ sovereign external balance sheet is considered strong relative to A range peers, let alone BB and BBB category medians,” Fitch said, citing the net external creditor position.
An exit from so-called junk status bolsters Aquino’s drive to transform the nation into one of the region’s fastest-growing economies 15 years after the Asian financial crisis of 1997-98. The upgrade may also boost capital inflows and complicate the job of the central bank as it tries to rein in an appreciating peso and curb asset bubbles.
“Funds are already pouring into the Philippines and an investment grade is a further endorsement,” Eugene Leow, a Singapore-based economist at DBS Group Holdings Ltd., said before the report. “It allows a wider pool of investors to buy Philippine assets and there might be a slight bump up in inflows. The central bank has been sounding off on inflows and they could implement measures to deter speculative inflows.”
The Philippine Stock Exchange Index (PCOMP) surged to a record in March and the peso is trading near a five-year high.
To contact the reporter on this story: Karl Lester M. Yap in Manila at kyap5*bloomberg.net
To contact the editor responsible for this story: Stephanie Phang at sphang*bloomberg.net

18.6K:grin2:

[shadow]

let the naysayer downplays it again...

[erobles]

Tamiiiiis! Kaya pala bigla taas ng stocks kanina eh.

Sent from my Lenovo P700i using Tapatalk 2

[shadow]

ilang points ibababa ng interest rate?

[greenlyt]

kasalanan lahat yan ni Pnoy

[ghosthunter]

PH corruption still ranks high in the world.

PH is also one of the more expensive places to setup a business. So much red tape.

Heck even just sending a personal package from abroad to the PH will result in your wallet getting raped.

[roninblade]

PH corruption still ranks high in the world.

PH is also one of the more expensive places to setup a business. So much red tape.

Heck even just sending a personal package from abroad to the PH will result in your wallet getting raped.

i usually agree with most of your posts dude, but you can't expect miracles. generations of corruption can't be turn around in less than 3 years. let's keep one eye on the goal and take it one step at a time.

[vinj]

PH corruption still ranks high in the world.

PH is also one of the more expensive places to setup a business. So much red tape.

Heck even just sending a personal package from abroad to the PH will result in your wallet getting raped.

Agree here. We will have even much more longer lasting economic benefits if corruption and red tape is seriously dented and dealt with at all levels of the bureaucracy. That however, i cannot say how long it will take as it's still very much alive and kicking.

abangan ko nga say ng mga leftist ng tsikot

Hindi naman daw si Pnoy yung gumawa nyan. Dahil daw yan sa mga taong nag-rally araw-araw. :D

[Monseratto]

Whoopeedo... my horses in the stockmarket are ready to gallop next week...

[glenn manikis]

ask ko lang what are the reason po ba bakit tumaas ratings natin?

na lessen na ba ang corruption?

or bec. the govt. was able to collect more taxes or revenues?

gumaganda ba talaga ang patakbo ng gobyerno natin?

nabawasan na po ba ang problema ng bansa?


or hindi kaya dahil malapit na ang election?

naramdaman na po ba ng ordinaryong pilipino ang pag unlad?

asking lang po ako ha....

[safeorigin]

ask ko lang what are the reason po ba bakit tumaas ratings natin?

na lessen na ba ang corruption?

or bec. the govt. was able to collect more taxes or revenues?

gumaganda ba talaga ang patakbo ng gobyerno natin?

nabawasan na po ba ang problema ng bansa?


or hindi kaya dahil malapit na ang election?

naramdaman na po ba ng ordinaryong pilipino ang pag unlad?

asking lang po ako ha....

If there are tangible improvements in the economy it's because of fundamentals.

If you don't see any, it's speculation.

[iOz]

Sabi ng Fitch, credit to ex PGMA, but still Philippines still very expensive to set up and do business. Alam nyo na kung bakit...

[CVT]

Now everybody is jumping into the band wagon

[shadow]

Apparently foreign investors like yun pagtitipid ni Pnoy...pero we are paying interest sa mga pera na hinde naman nagagamit sa mga projects...nasaan na ba kasi mga PPP?


Sent from my iPad using Tapatalk HD

[Monseratto]

Yung sinasabi ng Fitch is the PH goverment can pay up its sovereign debt bonds ADEQUATLY. Makakautang ng mas mababa ang interest. Walang sinasabi na the business climate has improved...

BBB- An obligor has ADEQUATE capacity to meet its financial commitments. However, adverse economic conditions or changing circumstances are more likely to lead to a weakened capacity of the obligor to meet its financial commitments.

Bond credit rating - Wikipedia, the free encyclopedia

[uls]

ask ko lang what are the reason po ba bakit tumaas ratings natin?

persistent current account surplus (more dollar inflow than outflow) thanks to OFW remittances

our foreign debt is dollar denominated

the more dollars you have the better able to pay foreign debt

May mga inaantay ako magpost ng pangontra e...

Fitch lang yan eh

Moody's and S&P are taken more seriously

[111prez]

I hope that this is sustainable.

I hope more that this will mean a larger and more prosperous middle class and not just the rich getting richer and the middle class getting poorer

After all, para saan pa ang improvement sa investment grade rating if the prosperity is not shared by all

[uls]

investment funds consider a country IG only when at least 2 rating agencies rate the country IG

[vinj]

I hope that this is sustainable.

I hope more that this will mean a larger and more prosperous middle class and not just the rich getting richer and the middle class getting poorer

After all, para saan pa ang improvement sa investment grade rating if the prosperity is not shared by all

I'll drink to that dude! It's when you start seeing that pie of wealth trickle down to the middle class and lower that one can say that the economic improvements are indeed making its mark.

[basti08]

Fitch lang yan eh

Moody's and S&P are taken more seriously

S&P just rated us 'investment grade".