James McCormack Quotes

What would be under consideration is what to do with the negative outlook - whether to revert that back to stable, or to retain the negative outlook, or to downgrade the credit. But upgrading (the rating) from a negative outlook is not something that happens very frequently, and I don't expect that would happen in the case of the Philippines.

- James McCormack

Tags

Consideration | Negative | Outlook | Revert | Stable |

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There are clear improvements in the banking sector, for example, where the legacy of directed lending is slowly giving way to a more market-based allocation of credit supported by the involvement of foreign strategic investors. - James McCormack

So if the effective interest rate on Philippines government debt goes up, it just takes more of their revenues to service their debts, so these are issues that really do need to be addressed. - James McCormack

Notwithstanding ongoing regional integration with China, growth in Asia remains highly leveraged to external demand, and particularly the US consumer, whom we believe to be overstretched. - James McCormack