Dagong lowers Philippines rating outlook

BEIJING, Jan 25 (Xinhua): China's domestic rating agency Dagong on Friday downgraded the rating outlook of the Republic of the Philippines from stable to negative.

Ratings for the country's domestic currency and foreign currency sovereign credit were both maintained at BB-, the agency said in a statement on its website.

"Under the background of the forthcoming tightening of global monetary policy, the Philippines' economic growth mode characterised by substantial capital inflows and fast credit expansion is facing severe challenges," the statement said.