Hanoi, April 21 -- FitchRatings has revised the Philippines' credit outlook from "stable" to "negative", signalling rising risks to the country's credit profile, while maintained the country's long-term foreign-currency rating at "BBB".
The Outlook revision reflects rising risks to the Philippines' strong medium-term growth prospects from recent disruptions to public investment, exacerbated in the near-term by elevated exposure to the ongoing global energy shock.
It forecasts GDP growth to stay below recent rates at 4.6% in 2026, as public capex recovers only gradually and higher energy costs weigh on household consumption.
The outlook downgrade was largely driven by vulnerabilities in the country's external position, particularly its re...