links: http://www.gov.ph/2013/05/02/statement-the-presidential-spokesperson-on-standard-poors-upgrade-of-phl-to-investment-grade-rating-may-2-2013/
Statement: The Presidential Spokesperson on Standard & Poor’s upgrade of PHL to investment grade rating, May 2, 2013
Statement of Secretary Edwin Lacierda:
On Standard & Poor’s upgrade of the Philippines to investment grade rating
[Released on May 2, 2013]
Tuwid na Daan is truly the path to
progress and tangible improvements in our economic life. Today, Standard
and Poor’s upgraded the Philippines from BB+ to an Investment Grade
rating of BBB-. This comes at the heels of the earlier pronouncement of
Fitch Ratings that already upgraded the Philippines to investment grade.
The news spread quickly among ordinary people who took ownership of the
good news, which is a sign of how good news and optimism are truly
contagious, contributing to positive national mood and the can-do,
increasingly empowered attitude of the nation.
We welcome the upgrade, not just as the
latest institutional affirmation of the Aquino administration’s good
governance initiatives: it also helps enable lower costs for borrowing,
which equals lower costs for hospitals, schools, and other vital
structural improvements for the benefit of our people. It is further
indicative of sustained confidence in the Philippine economy: of our
collective resilience, optimism, and growing potential, amidst global
economic uncertainty, borne not just on the shoulders of discipline and
prudence that has marked the economic policies of the Aquino
administration, but also on the hard work and dedication of the Filipino
people. Truly, kayo ang gumawa nito.
Credit Ratings Graph (1997-2013)
GPH Website
http://www.gov.ph/2013/05/02/statement-the-presidential-spokesperson-on-standard-poors-upgrade-of-phl-to-investment-grade-rating-may-2-2013/
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