MANILA -Fitch Ratings has revised the outlook on the Philippine national government's credit rating as a borrower in foreign currencies to 'stable' from 'negative,' and kept it the investment-grade level of 'BBB.' The global credit watchdog said the revision of the outlook to stable reflected its improved confidence that the Philippines is returning to strong medium-term growth after the Covid-19 pandemic, supporting sustained reductions in the ratio of the government debt-to-gross domestic product which has risen substantially in the past few years.

https://business.inquirer.net/402154/fitch-ratings-improves-outlook-on-ph-to-stable-from-negative

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