April 28, 2017 / 2:33 PM / 6 months ago

BRIEF-S&P says ratings on the Republic of the Philippines affirmed at 'BBB/A-2'

April 28 (Reuters) - S&P

* S&P says ratings on the Republic Of the Philippines affirmed at ‘BBB/A-2’; outlook stable

* S&P says affirming ‘BBB’ long-term and ‘A-2’ short-term sovereign credit ratings on the philippines

* S&P says also affirming ‘AXA/AXA-2’ ASEAN regional scale ratings on the Philippines

* S&P says stable outlook balances the Philippines’ lower middle-income economy and policy vulnerabilities against its strong external position

* S&P says ratings on Philippines reflect assessment of its strong external position, featuring ample foreign exchange reserves,low and declining external debt

* S&P on Philippines - believe the Duterte administration will broadly continue with fiscal and economic development policies of previous administration Source text (bit.ly/2pbP3iP)

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