The Philippines’ 5-year credit default swaps spread settled at 49.2 bps as of August 19, much tighter than those of peers. Confidence on the Philippines is further cemented by favorable actions by credit rating agencies.
6 / 13  BIS central bankers' speeches  Japan-based debt watchers Japan Credit Rating Agency and R&I raised the country’s credit rating by a notch to A minus, and Triple B plus respectively.