Filipinas mantiene BB+ segun Fitch

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Filipinas mantiene BB+ segun Fitch

Mensajepor Dalamar » 20 Jun 2012 11:59

Segun Fitch Filipinas mantiene su BB+ a un paso del investment grade, es la segunda economia que mas crece de Asia despues de China:

"The Philippine economy grew by 6.4 percent in the first quarter of this year, the second-fastest rate in Asia for the period, next to China’s 8.1 percent.

Moreover, the Philippine government’s outstanding debt has fallen to just about 50 percent of the country’s gross domestic product (GDP) from over 80 percent in 2004."
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Filipinas mantiene BB+ segun Fitch

Mensajepor Dalamar » 07 Jul 2012 06:22

MANILA, Philippines—The peso strengthened Thursday to hit a new four-year high as the market rejoiced the credit-rating upgrade for the Philippines granted by Standard & Poor’s.
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Filipinas mantiene BB+ segun Fitch

Mensajepor Dalamar » 09 Jul 2012 16:23

The Philippines is the “most underrated country in the world” but any upgrade would have to wait until “significant momentum” in revenue generation and debt reduction is sustained, Moody’s Investors Service said.

Moody’s bond-implied ratings showed the country being rated by the market at Baa1, an investment grade and four notches above Moody’s Ba2 rating for the Philippines.

Bond-implied ratings show the market’s pricing and treatment of a country’s bonds in relation to its actual rating from a particular credit rating agency.

“The markets have already voted the Philippines as an investment grade rating. As you can see, credit rating agencies are now behind the curve,” Bangko Sentral ng Pilipinas (BSP) Deputy Governor Diwa Guinigundo said during the BSP’s annual media seminar held here.

Finance Secretary Cesar V. Purisima told The STAR in an e-mail: “With the achievements on the monetary and fiscal front, the Philippines clearly has a very strong case for investment grade, and we will continue to engage the credit ratings agencies so that they come to this realization before 2016.”
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Filipinas mantiene BB+ segun Fitch

Mensajepor Dalamar » 18 Jul 2012 16:04

Dutch financial giant ING is “bullish” on four Philippines asset classes: property, main index stocks, peso and fixed income, as the country is seen entering a new phase of higher-trend growth and investor confidence.

In a press briefing on Wednesday, ING chief economist and head of research for Asia Tim Condon said the Philippines and Indonesia have been enjoying a “re-rating,” or a favorable change in market perception.

The economist noted that trend real GDP growth had gone up from about 4 percent in the decade after 1984 to 4.5 percent since 2005. “I think there’s a new normal here,” Condon said. “It’s a good story.”

But the last few quarters of growth in the Philippines were mostly driven by exports as the country benefited from increased trade with China. To attain a steady growth at a higher range of 7-8 percent, he said investment spending as a ratio to GDP must rise beyond 20 percent.
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Re: Filipinas mantiene BB+ segun Fitch

Mensajepor Dalamar » 28 Nov 2012 17:55

Global investment bank JP Morgan has picked the Philippines as one of its three most-favored stock markets for 2013, marking the fourth straight year that the local bourse is expected to outperform most of its regional peers.

“We are still very bullish for 2013,” JP Morgan Securities Philippines Inc. executive director and head of equity research Gilbert Lopez said in a press briefing on Monday. The two other Asian markets seen by JP Morgan as top market picks for next year are Thailand and India, citing favorable demographics as a common denominator with the Philippines.

At the beginning of 2012, JP Morgan’s emerging market and Asian equity strategist Arian Mowat also cited the Philippines as among its most favored markets along with Thailand and Indonesia. This year, he said the Philippines was still on Mowat’s favored list.

Lopez said JP Morgan had an “overweight” rating on Philippine equities for the last four years. An “overweight” rating refers to a recommendation to buy in excess of the prescribed weight in a closely followed index like MSCI Asia ex-Japan, which JP Morgan expects to rise by 15 percent next year.

JP Morgan does not target local indices like the Philippine Stock Exchange index but Lopez said that based on its price targets on monitored stocks, the PSEi might have room to rise by another 20-25 percent from current levels. The company covers 30 Philippine stocks, at least 27 of which are part of the PSEi.

“The reason we like the Philippines is that in a global context, earnings environment is still good,” Lopez said, adding that JP Morgan was expecting average earnings per share in this market to grow at a faster pace of 17 percent next year from about 12 percent this year.
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