The ratings reflect the country’s above-average economic growth potential. These also benefit from the country’s strong external position.

Policy settings in the country have helped keep economic performance strong, and have sustained fiscal spending on public investment. A strong economic recovery in the Philippines over the past three years, and ongoing reforms to support business and investing conditions reflect these strengths, the rating agency said in a note.

S&P Global Ratings recently affirmed its ‘BBB+’ long-term and ‘A-2’ short-term sovereign credit ratings on the Philippines.
The outlook on the long-term rating remains positive.
The ratings reflect the country’s above-average economic growth potential.
Policy settings in the country have helped keep economic performance strong, and have sustained fiscal spending on public investment.

A slowdown in public infrastructure investment in the Philippines is weighing on its near-term growth prospects. However, S&P Global Ratings believes this is temporary and economic growth prospects remain strong.

The government is continuing its fiscal consolidation, with its debt burden stabilising. The country’s external position remains a rating strength, although current account deficits in recent years have decreased net external assets.

The positive rating outlook reflects the rating agency’s view that the Philippines will maintain its external strength and healthy growth rate, and fiscal performance will strengthen over the next 12-24 months.

Fibre2Fashion News Desk (DS)

The Ludhiana market saw average buying from the weaving industry, with no significant movement in yarn prices. A trader from Ludhiana told Fibre*Fashion, “Demand was enough to support cotton yarn prices at current levels. But it could not push prices higher despite the rise in the natural fibre. Payment issues remain a concern across the entire textile value chain. Overall demand for cotton yarn is limited in both domestic and international markets.”

In Ludhiana, ** count cotton combed yarn was sold at ****;***–*** (~$*.**–*.**) per kg (inclusive of GST); ** and ** count combed yarn were traded at ****;***–*** (~$*.**–*.**) per kg and ****;***–*** (~$*.**–*.**) per kg, respectively; and carded yarn of ** count was noted at ****;***–*** (~$*.**–*.**) per kg today, according to trade sources.