R&I affirms Phl credit rating at ‘A-’

Japanese debt watcher Rating and Investment Information, Inc. (R&I) has affirmed the Philippines’ investment-grade credit rating of “A-” with a stable outlook, a move seen by the Department of Finance (DOF) as a strong vote of confidence from international investors.

“Isa itong tagumpay na dapat ipagdiwang ng bawat Pilipino. Dahil ibig sabihin nito, nananatiling mataas ang tiwala ng mga credit rating agencies at investors sa atin (This is a success that every Filipino should celebrate. Because it means that credit rating agencies and investors remain confident in us),” Finance Secretary Ralph Recto said Thursday.

Recto added that the sustained positive rating will help attract more investments, create quality jobs, raise incomes, and lift more Filipinos out of poverty.

An “A-” rating reflects strong macroeconomic stability and solid creditworthiness. It allows both the government and the private sector to borrow at lower interest rates while also boosting the country’s appeal to foreign direct investors.

R&I said the Philippine economy remains one of the fastest-growing in Southeast Asia. 

The country posted a 5.5 percent Gross Domestic Product (GDP) growth in the second quarter of 2025, outpacing China (5.2 percent), Indonesia (5.1 percent), Malaysia (4.5 percent), Singapore (4.3 percent), and Thailand (2.8 percent).

The Japanese rating agency also cited the Philippines’ steady fiscal consolidation, noting improvements in narrowing the fiscal deficit and strengthening debt metrics in line with the government’s fiscal strategy.