Philippines Credit Rating

This page includes the government debt credit rating and outlook of Philippines as reported by the credit rating agencies of S&P, Moody’s and Fitch. Credit rating agencies are often slow to respond to rising risk conditions. Sign up free to monitor Philippines’s sovereign risk using MacroVar Advanced Financial & Macroeconomic data analytics.

Date Rating Outlook Indicator
15-09-22 Baa2 (Stable) Baa2 Philippines Credit Rating (Moody's)
16-07-20 Baa2 (Stable) Baa2 Philippines Credit Rating (Moody's)
07-05-20 BBB BBB Philippines Credit Rating (Fitch)
11-02-20 BBB BBB Philippines Credit Rating (Fitch)
30-05-19 BBB BBB Philippines Credit Rating (Fitch)
30-04-19 BBB+ (Stable) BBB+ Philippines Credit Rating (S&P)
19-12-18 BBB BBB Philippines Credit Rating (Fitch)
20-07-18 Baa2 (Stable) Baa2 Philippines Credit Rating (Moody's)
17-07-18 BBB (Stable) BBB Philippines Credit Rating (Fitch)
26-04-18 (Positive) Philippines Credit Rating (S&P)
10-12-17 BBB (Stable) BBB Philippines Credit Rating (Fitch)
27-06-17 Baa2 (Stable) Baa2 Philippines Credit Rating (Moody's)
29-03-17 BBB- (Positive) BBB- Philippines Credit Rating (Fitch)
22-07-16 BBB- (Positive) BBB- Philippines Credit Rating (Fitch)
08-04-16 BBB- (Positive) BBB Philippines Credit Rating (Fitch)
24-09-15 BBB- (Positive) BBB Philippines Credit Rating (Fitch)
17-03-15 BBB- BBB Philippines Credit Rating (Fitch)
11-12-14 Baa2 (Stable) Baa2 Philippines Credit Rating (Moody's)
08-05-14 BBB (Stable) BBB Philippines Credit Rating (S&P)
25-03-14 BBB- (Stable) BBB Philippines Credit Rating (Fitch)
16-01-14 BBB- (Stable) BBB Philippines Credit Rating (Fitch)
03-10-13 Baa3 (Positive) Baa3 Philippines Credit Rating (Moody's)
25-07-13 (Under Review) Philippines Credit Rating (Moody's)
02-05-13 BBB- (Stable) BBB- Philippines Credit Rating (S&P)
27-03-13 BBB- (Stable) BBB Philippines Credit Rating (Fitch)

Philippines Credit Rating Analysis

The credit rating signal from each credit rating agency for the sovereign debt of Philippines and it’s meaning is presented in the table below.

S&PMoody’sFitchAnalysis
AAAAaaAAAPrime
AA+Aa1AA+High grade
AAAa2AA
AA-Aa3AA-
A+A1A+Upper medium grade
AA2A
A-A3A-
BBB+Baa1BBB+Lower medium grade
BBBBaa2BBB
BBB-Baa3BBB-
BB+Ba1BB+Non-investment grade
speculative
BBBa2BB
BB-Ba3BB-
B+B1B+Highly speculative
BB2B
B-B3B-
CCC+Caa1CCCExtremely speculative
CCCCaa2
CCC-Caa3In Default with small probability of recovery
CCCa
CC
D/DDDIn default