Fitch ups Philippines view to stable

Fitch Ratings said it affirmed the Republic of the Philippines' long-term foreign currency and long-term local currency ratings at BB and BB+, respectively, and revised the outlook on both ratings to stable from negative.

At the same time, the agency also affirmed the country's short-term foreign currency rating at B and the foreign currency country ceiling at BB.

The outlook revision reflects the recent passage of significant fiscal policy measures, which should help restore the public finances to a sustainable path over the medium term, assuming they are implemented as planned, Fitch said.

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