Moody's: PH can sustain reforms beyond 2016

Moody's, one of the Big 3 debt rating companies, says it is confident positive changes made over the last few years will be sustained even after a new president takes over in 2016. This echoes a statement made by Standard & Poor's, another of the Big 3, which gave the Philippines a surprise upgrade this month. Moody's analyst Christian de Guzman says it's unclear whether and how lawmakers will pass the handful of tax bills they are talking about, including lowering of income taxes. But de Guzman said government has been successful in raising revenues without changing the laws. - ANC