# Philippines Credit Rating & Sovereign Risk Score

Makrognosis sovereign credit model scores Philippines at 54 out of 100 as of 9 November 2026, equivalent to BBB- on the familiar letter scale — speculative grade.
The score is up 0.8 points from 53 on 1 October 2026.
That places Philippines 62nd of the 84 economies the model scores; Russia has the highest score at 100.
Key inputs include government debt of 63.2% of GDP, a fiscal balance of −3.9% of GDP, a current account balance of −3.3% of GDP.
This is a model-implied assessment built from official macroeconomic data. It is not a credit rating issued by S&P, Moody's or Fitch, and agency ratings are not reproduced here.

- Source: Makrognosis sovereign credit model
- Makrognosis code: `CREDIT:PH`
- Scale: 0–100 (100 = strongest credit); grade equivalent is model-implied
- Page: https://makrognosis.robomacro.com/data/philippines/credit-rating

## Score history

| Date | Score | Grade equivalent |
|---|---:|---|
| 2026-11-09 | 53.9 | BBB- |
| 2026-10-01 | 53.1 | BBB- |
| 2026-07-31 | 53.1 | BBB- |
| 2026-07-30 | 46.2 | BB |
| 2026-07-26 | 48.2 | BB+ |
| 2026-06-21 | 47.7 | BB+ |
| 2026-06-18 | 42.2 | BB- |

## Inputs

| Input | Value |
|---|---:|
| GDP per capita | US$4,170.7 |
| Real GDP growth, 5-year average | 5.8% |
| Inflation, recent average | 5.0% |
| Government debt | 63.2% of GDP |
| Fiscal balance | −3.9% of GDP |
| Current account balance | −3.3% of GDP |
| External debt | 26.3% of GDP |
| Foreign-exchange reserves | 7.3 months of imports |
| Governance (World Bank WGI composite) | −0.343 |

## API

```
GET https://makrognosis.robomacro.com/v1/credit/PH
```