Philippines: Amando Tetangco Jr., Governor of the Central Bank (BSP)
The first upgrade came on March 27 from Fitch, and Standard & Poor’s followed just over a month later, lifting the Philippines out of the junk bond status and placing it among the world’s elite 70 nations deemed suitable for business, where government and the private sector both are capable of paying their obligations. Ultimately, this translates into lower borrowing costs and, of course, higher investor confidence.
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