Moody’s: RP credit rating gets big boost
Posted by akosistella on May 13, 2010
MANILA, Philippines—Moody’s Investors Service Wednesday said the absence of doubt over the victory of Benigno “Noynoy” Aquino III in the presidential race is favorable for the country’s credit standing.
A winner of the presidential race had yet to be officially named, but the consensus is that Aquino’s lead was already wide enough to safely say he won.
In a commentary on the recent elections, the credit rating agency said the seeming consensus that Aquino was the clear winner of the 2010 presidential election meant that the probability of disruptions created by protests by losing candidates is low.
Consequently, Moody’s said, the absence of chaos in the political front appeases investors and encourages a positive outlook on the Philippine economy.