Sky high in Manila
, October 3, 2013
A general view of high-rise residential and commercial buildings is seen in Manila on October 3.
The Philippines earned its third investment-grade upgrade in about five months on Thursday after Moody's raised the country's sovereign debt rating by a notch to Baa3, a widely expected move that will further boost the country's allure among foreign investors.
Moody's said the decision to lift the country's credit rating and revise the outlook to positive from stable was based on the sustainability of the country's robust economic performance, fiscal and debt consolidation, as well as political stability and improved governance. Reuters/Romeo Ranoco