RAM Ratings, a Malaysian company that does independent credit opinions to guide investors, has recently upgraded the Philippines’ credit score to seaA1(pi) or Stable from seaA2(pi) or Positive.
RAM said, that the rating upgrade was based on “economic resilience in the midst of external volatility that compares favourably to ASEAN peers”. Another factor was the passing of laws – Build Operate Transfer Law and the Right of Way Act on February of this year, that reduces bottlenecks in acquiring properties. The implementation of Freedom of Information Bill through an executive order is an added factor as well.
The Philippines global rating could further be upgraded if it can fully execute the laws that were implemented and sustain current improvements.
Source: RAM Ratings