‘A’ credit rating dream stalled: S&P outlook on Philippines lowered to “stable” from “positive”

MANILA, Philippines — The war in the Middle East and the oil shock that followed have dimmed President Marcos’ prospects of securing the Philippines’ first-ever “A” credit rating from S&P Global Ratings, which lowered its sovereign outlook to “stable”. A stable outlook signals that the country’s “BBB+” investment-grade rating — which S&P affirmed on Thursday —