Philippines Growth Stable

Philippines government economic managers said Wednesday the decision of Moody’s Investors Service to maintain the Philippines’ debt rating at investment grade reflects the economy’s robust growth, Yahoo reported. Moody’s on Tuesday maintained the Philippines’ sovereign credit rating at “Baa2,” a notch above the minimum investment grade, with a stable outlook. “The Philippines’ Baa2 rating reflects high economic strength that balances the country’s large scale and rapid growth against low per capita income relative to peers.”