S&P changes Philippines view

S&P said it revised its outlook on the long-term sovereign credit rating on the Philippines to positive from stable.

The agency also affirmed the BBB long-term and A-2 short-term ratings.

The transfer and convertibility assessment is unchanged at BBB+.

S&P said the positive outlook reflects a view that improvements to the Philippines' policymaking settings could support a track record of more sustainable public finances and balanced growth over the next 24 months.

“We may also raise the ratings if the government's revenue enhancement measures lead to lower-than-expected deficits, which would have a knock-on effect on net general government debt,” the agency said in a news release.

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