News » PH gets upgraded credit rating grade from Japan

PH gets upgraded credit rating grade from Japan

PH gets upgraded credit rating grade from Japan

The Philippines has received the much-awaited “A” credit grade from the Japan Credit Rating Agency (JCR), as it has upgraded the country’s rating to “A-” with a stable outlook. The Philippines previously held the “BBB+” rating.

JCR said that its decision stemmed from its assessment that the impact of the COVID-19 on the domestic economy and government’s fiscal standing will be temporary. This is due to the country’s strong fundamentals going into the crisis, the massive relief measures, and the pursuit of important legislation, such as the Corporate Recovery and Tax Incentives for Enterprises Act (CREATE).

Looking ahead, JCR expects the Philippine economy to recover between six and seven per cent in the medium term following an anticipated contraction this year due to the effects of the COVID-19 pandemic.

Read more here.

Start your
journey today

  • Independent
  • Free
  • Transparent

About OA

Outsource Accelerator is the trusted source of independent information, advisory and expert implementation of Business Process Outsourcing (BPO)

The #1 outsourcing authority

Outsource Accelerator offers the world’s leading aggregator marketplace for outsourcing. It specifically provides the conduit between Philippines outsourcing suppliers and the businesses – clients – across the globe.

The Outsource Accelerator website has over 5,000 articles, 350+ podcast episodes, and a comprehensive directory with 900+ BPO companies… all designed to make it easier for clients to learn about – and engage with – outsourcing.

About Derek Gallimore

Derek Gallimore has been in business for 20 years, outsourcing for over eight years, and has been living in Manila (the heart of global outsourcing) since 2014. Derek is the founder and CEO of Outsource Accelerator, and is regarded as a leading expert on all things outsourcing.