Yesterday and today, I came across several articles in the newspapers and news reports on TV and radio about the “so-called” upgrade in our country’s credit rating by international rating agency, Standard & Poor’s. That is quite inaccurate.
What is a credit rating? A credit rating is an assessment of an entity’s capability and willingness to pay obligations upon maturity. It is a credit opinion based on the evaluation of available information. In a market like the Philippines, the Securities and Exchange Commission, requires a credit rating for publicly-issued debt like commercial papers, [...]