PH may face first credit downgrade in decades as Fitch turns ‘negative’

MANILA, Philippines – The Philippines’ hard-won sovereign credit rating is under fresh threat after Fitch Ratings lowered its outlook on the country to “negative” from “stable,” pointing to mounting fiscal strains tied to a recent graft scandal and the ongoing global energy shock. A negative outlook signals that the nation’s investment-grade “BBB” rating, which Fitch