Japan Credit Rating Agency (JCR) upgraded the Philippines’ credit rating to A-.

The Tokyo-based Japanese Credit Rating Agency (JCR) has upgraded the Philippines credit rating from BBB + to A- citing the country’s resilience amid a pandemic.
In recent years, regular issuance of Samurai bonds as a financing activity of the Philippine government has been a sign of a rating upgrade from JCR.
The guidelines of many Japanese institutional investors allow investment when JCR is rated A or above. 

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