Philippines maintains BBB+ credit rating despite COVID-19 impact

President Rodrigo Duterte announced on Monday that the Philippines has maintained its BBB+ credit rating despite the economic impact of the COVID-19 pandemic.

Duterte attributed this stable rating to the early implementation of enhanced community quarantine measures in March, which he said set the country apart from others who delayed lockdowns.

The president highlighted the government's efforts and compliance with health protocols as key factors in maintaining the credit rating, which is the highest ever recorded for the Philippines.