MANILA, Philippines— In a report released on March 10, 2023, Japan's leading credit watcher, Japan Credit Rating Agency (JCR) affirmed the Philippines' investment-grade credit rating of A- with a stable outlook amid global uncertainties and a high inflation. The affirmation confirms the country's strong macroeconomic fundamentals, as evidenced by the strong growth performance in 2022 at 7.6%, which exceeded the 6.5% to 7.5% growth assumption of the Development Budget Coordination Committee (DBCC).

https://business.inquirer.net/390671/japan-credit-rating-agency-affirms-a-with-stable-outlook-of-ph

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