Current Philippines credit ratings, according to main rating agencies.

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Rating Agency Rating Outlook Last Update Action
Standard & Poor's BBB+ - 30 Apr 2019 rating upgrade
Moody's Investors Service Baa2 - 11 Dec 2014 rating upgrade
Fitch Ratings BBB negative 12 Jul 2021 outlook downgrade
DBRS - -

Philippines: Long-term Rating Scales Comparison

Symbol means a positive outlook assigned by the rating agency.
Symbol means a negative outlook.

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Grade Description S&P Moody's Fitch DBRS
Investment
Grade
Prime
AAA
Aaa
AAA
AAA
High Medium Grade
AA+
Aa1
AA+
AA(high)
AA
Aa2
AA
AA
AA-
Aa3
AA-
AA(low)
Upper Medium Grade
A+
A1
A+
A(high)
A
A2
A
A
A-
A3
A-
A(low)
Lower Medium Grade
BBB+
Baa1
BBB+
BBB(high)
BBB
Baa2
BBB
BBB
BBB-
Baa3
BBB-
BBB(low)
Speculative
Grade
Speculative
BB+
Ba1
BB+
BB(high)
BB
Ba2
BB
BB
BB-
Ba3
BB-
BB(low)
Highly Speculative
B+
B1
B+
B(high)
B
B2
B
B
B-
B3
B-
B(low)
Substantial Risk
CCC+
Caa1
CCC+
CCC(high)
CCC
Caa2
CCC
CCC
CCC-
Caa3
CCC-
CCC(low)
Extremely Speculative
CC
Ca
CC
CC
C
C
C
C
In Default
RD
/
RD
RD
SD
/
SD
SD
D•NR
D•NR
D•NR
D•NR

Philippines Credit Ratings historical data

Not enough data.

Timetable of Philippines credit ratings by S&P, Moody's, Fitch and DBRS agencies.
Symbol means a positive outlook assigned by the rating agency.
Symbol means a negative outlook.

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Date S&P Moody's Fitch DBRS
12 Jul 2021 BBB
7 May 2020 BBB
11 Feb 2020 BBB
30 Apr 2019 BBB+
26 Apr 2018 BBB
10 Dec 2017 BBB
24 Sep 2015 BBB-
11 Dec 2014 Baa2
8 May 2014 BBB
3 Oct 2013 Baa3
25 Jul 2013 Ba1
2 May 2013 BBB-
27 Mar 2013 BBB-
20 Dec 2012 BB+
29 Oct 2012 Ba1
4 Jul 2012 BB+
29 May 2012 Ba2
16 Dec 2011 BB
23 Jun 2011 BB+
15 Jun 2011 Ba2
6 Jan 2011 Ba3
12 Nov 2010 BB
23 Jul 2009 Ba3
24 Jan 2008 B1
2 Nov 2006 B1
12 Feb 2006 BB
9 Feb 2006 BB-
13 Jul 2005 B1
11 Jul 2005 BB-
10 Jul 2005 BB
26 May 2005 BB
16 Feb 2005 B1
17 Jan 2005 BB-
7 Dec 2004 BB
27 Jan 2004 Ba2
12 Jun 2003 BB
24 Apr 2003 BB
8 Jan 2003 Ba1
28 Oct 2002 BB+
3 Apr 2002 BB+
3 Feb 2002 Ba1
3 May 2001 Ba1
17 Jan 2001 BB+
19 Oct 2000 BB+
8 Jul 1999 BB+
6 Jan 1999 BB+
23 Feb 1998 BB+
26 Sep 1997 BB+
18 May 1997 Ba1
21 Feb 1997 BB+
23 Jan 1997 Ba2
30 May 1995 BB
12 May 1995 Ba2
2 Nov 1994 BB-
2 Jul 1993 BB-
1 Jul 1993 Ba3

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