A credit rating is a measure of the credit worthiness of a government, a public entity, or a private corporation. The credit rating is also used as an assessment of the quality of debt instruments issued by any of these organizations.
Just a month after the Philippines received its first-ever investment grade rating from Fitch Ratings, another credit rating agency gave the country its stamp of approval by bestowing upon the Philippines a BBB- rating, equivalent to a lower medium investment grade. Standard & Poor’s (S&P),
On August 4, Thursday, US stocks suffered the worst one-day sell-off in two years, with the Dow Jones Industrial Average (DJIA) falling 4.31% and the Nasdaq Composite Index losing 5.08% of its value. A few hours after US stock markets closed, Philippine stocks followed suit