MANILA, March 7 -- Finance Secretary Ralph Recto said the Japan Credit Rating Agency's (JCR) latest affirmation of the country's investment-grade credit rating of "A-" with a stable outlook is a strong vote of confidence in President Ferdinand R. Marcos Jr.'s sound economic policies.

"This latest development is highly encouraging and shows that the fiscal and economic policies pursued by the Marcos Jr. administration are on track to achieve a growth-enhancing fiscal consolidation," Recto said in a statement on Thursday.

"Having a high credit rating is a major win for all as this means that the Philippines can have more access to cheaper financing from our development partners and the international capital markets," he said.

JCR on Wedn...