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 | - | 22 May 2023 | outlook upgrade |
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
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 |
---|---|---|---|---|
22 May 2023 | BBB | |||
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 |