Bloomberg News

Philippines May Win Rating Upgrade This Year, Guinigundo Says

January 04, 2012

Jan. 4 (Bloomberg) -- The Philippines may achieve a higher credit rating in the next six months to 12 months after Standard & Poor’s Ratings Services raised its outlook on the nation’s debt in December, central bank Deputy Governor Diwa Guinigundo said today in Manila.

The monetary authority will “accommodate growth to the extent possible” as the government seeks to accelerate spending to help shield the economy from a faltering global expansion, he said. The level of borrowing isn’t worrisome and Philippine banks can withstand the global crisis, Guinigundo said.

--With assistance from Cecilia Yap in Manila.

To contact the reporter on this story: Max Estayo in Manila at mestayo@bloomberg.net

To contact the editor responsible for this story: Clarissa Batino at cbatino@bloomberg.net


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