BRIEF-Fitch Revises Philippines' Outlook To Negative

- FITCH:

  • FITCH REVISES PHILIPPINES' OUTLOOK TO NEGATIVE; AFFIRMS AT 'BBB'

  • FITCH ON PHILIPPINES: AFFIRMATION REFLECTS OUR BASELINE THAT, DESPITE RISING RISKS, MEDIUM-TERM GDP GROWTH WILL REMAIN ROBUST

  • FITCH: PHILIPPINES HIGHLY EXPOSED TO MIDDLE EAST CONFLICT GIVEN ITS RELIANCE ON ENERGY IMPORTS & POTENTIAL MODERATION OF REMITTANCES FROM GULF REGION

  • FITCH: PHILIPPINES' DOMESTIC POLITICAL SITUATION REMAINS VOLATILE GIVEN RIFT BETWEEN PRESIDENT FERDINAND MARCOS & VICE PRESIDENT SARA DUTERTE

  • FITCH: PHILIPPINES RATING IS CONSTRAINED BY RELATIVELY LOW PER CAPITA GDP AND GOVERNANCE SCORES