S&P affirms RP "BB" rating

S&P affirms RP "BB" rating

MANILA: International rating outfit Standard and Poor's (S&P)
said Thursday it is affirming the Philippines's "BB" long-term
foreign currency rating, while downgrading its long-term local
currency rating a notch to "BBB minus".

The decision to affirm the long-term foreign currency rating
takes into account the Philippines' continued satisfactory
external liquidity position, underpinned by the stable inflow of
overseas remittances, it said in a statement. -- AFP