“We thank S&P for recognizing the gains the Philippines has achieved in the fiscal and monetary front. This is the 8th positive credit ratings action under the Aquino Administration and this only gives us more confidence to continue with the work that we have started towards macroeconomic stability, fiscal sustainability, and inclusive economic growth. Two out of the three major credit rating agencies now have us one notch below investment grade. We can now clearly make our case for an investment grade status.”