Finally. As partly expected by most of us early this year. Our beloved country has completed its rise to investment rating from the 3 major ratings agencies, with Moody’s giving the Philippines Baa3 just today.
The latest upgrade from Moody’s is based on our country’s strong sustained growth, political stability and improved governance. Ahem.
Given the recent turn of events of alleged widespread misuse of government funds, will that change the opinion of these agencies? Though outlook-wise, I would say our economy is still upbeat barring external glitches such as from the US (partial government shutdown, debt ceiling).
And if expert foreign agencies see the Philippines as investment grade, shouldn’t every Juan invest in the country as well?
Lastly, I wonder how our stock market will take this. Or has it been factored in long ago?