Philippines gets credit rating upgrade from Moody’s

money

Moody’s Investors Service on Wednesday upgraded the Philippines’ sovereign rating to Ba2 from Ba3.  The Philippines previously had a Ba3 rating, two notches below investment grade, granted in July 2009. It was Moody’s first rating upgrade for the country in 12 years. Before that it had a B1 credit rating from 2005 to 2009, its […]

Philippine Peso Has Worst Week in Two Months on Deficit Concern

Bloomberg reports that the Philippine peso had its biggest weekly loss in two months on concern a widening budget deficit will erode confidence in the nation’s assets. The currency yesterday reached a seven-week low versus the dollar after the government on April 22 said it had a first- quarter shortfall of 119.7 billion pesos ($2.5 […]

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