Philippines wins first investment grade rating from Fitch

Fitch-RatingsFitch Ratings raised the Philippines’ credit rating to investment grade now. Philippines is a first for the Southeast Asian nation. The rating raised in order to promote investment and elevate the country’s long-term growth potential.

The upgrade to ‘BBB-‘ is a vote of confidence in the government’s efforts to achieve fiscal sustainability, curb corruption and increase infrastructure spending, and comes as a growing number of much larger economies in the West struggle to avoid credit rating downgrades.

Fitch said Manila has had stronger and less volatile growth than its peers over the last five years, and expects trend GDP growth of 5-5.5 percent in coming years.

The Philippine central bank has cleaned out its funds over the past year, spending billions of pesos to shield its currency and economy from the impact of large inflows of foreign money.

Investors have already been pricing Philippine bonds at levels similar to investment-grade nations. But by having it made official by Fitch, it will reduce the country’s borrowing costs and widen Manila’s base of potential investors.

Standard & Poor’s raised its rating outlook for the Philippines to positive from stable in December and said it could be awarded investment grade status if it follows through on reforms to improve revenues and boost growth.

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About thomasdinnocenzi

Thomas D'Innocenzi is a highly accomplished, results-focused senior international executive with extensive experience in global sourcing and market development worldwide to meet evolving business needs. Tom has proven ability in implementing and managing profitable global sourcing operations worldwide. Extensive experience in international market development operations to accommodate rapid growth. Skilled in building top-performing teams, benchmarking performance, and restricting organizations to improve efficiency, productivity, and profitability. Experienced transition leader and change agent. As principal of Nova Advisors, LLC I’ve assembled an exemplary team that brings with them the knowledge and experience gained from starting up a Global Sourcing program with multiple Fortune 500 companies as well as the largest supplier network throughout the Asia-Pacific region. We have experience and expertise in more than a thousand medical and pharmaceutical products in manufacturing and sourcing at the best value. The right product, the right price point and the right branding fueled these successes that resulted in double-digit growth for top line sales and bottom line net margins for our customers. What sets us apart: • Our reach includes a large network of suppliers & manufacturers spanning 13 countries in Asia-Pacific region • We understand the manufacturing process and the business of the supplier and the buyer • Our company culture is based on quality assurance and our process is based on local quality control Our commitment is to be your partner offering the best products and services at the lowest cost. Contact me to discuss how we can make the global marketplace work for you. thomas@novaadvisors.com In addition, I am open to discussing opportunities in global sourcing, international marketing & sales, logistics and medical/pharma in Thailand, Vietnam, Malaysia, Philippines & Japan. Aside from my work I enjoy piano, astronomy, physics, and assisting my daughters with their studies. SPECIALTIES: Global Sourcing, Supply Chain Management, Business Development, Marketing, Logistics, Global Networking, Market Development, Healthcare Solutions, Pharmaceuticals, Medical Devices, Technology, Asia, Southeast Asia, US and Canada
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