“We thank Moody’s for recognizing the significant progress that the Aquino administration has undertaken to improve the country’s economic fundamentals. This 9th positive ratings action is another affirmation of the President’s agenda and our underlying belief that good governance is good economics. It has been a decade since all three major ratings agencies rated us a notch below investment grade.

“As the President said over the weekend, this is indeed a great time to be a Filipino. With the President’s commitment to maintain macroeconomic stability, enhance fiscal sustainability, and accelerate investment growth, investment grade will definitely come sooner rather than later.”