Moody's rates Philippines bond B1

Moody's Investors Service said it assigned a foreign-currency rating of B1 to the government of the Philippines' forthcoming $500 million global bond maturing on Jan. 15, 2032.

The outlook is positive.

The ratings reflect the country's large public-sector debt, which leaves the government's finances vulnerable to shocks, the agency said.

The outlook reflects policy success in reducing inflation and anchoring inflationary expectations in line with the target range of the country's central bank, Moody's said.

Improved macroeconomic conditions and fiscal performance are mutually reinforcing each other, the agency said.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.