The CCC risk rating is impacted by the Sovereign Probability of Default (ability and willingness to honour financial obligations), political risks, and other mitigating or worsening factors.
Business environment in Philippines
With a population exceeding 100 million people, the Philippines is one of the largest markets in Southeast Asia. The country’s economic growth prospects remain positive following strong consumer demand. While the Philippines business environment has improved in recent years, poor infrastructure, bureaucracy and restrictions on foreign equity ownership in certain sectors present challenges for foreign investors. To navigate the complexities of the market, Canadian companies are advised to identify and collaborate with strong local partners, especially with the large local conglomerates that have a lion’s share of the country’s major infrastructure projects.