By Lawrence Agcaoili

Representatives from New York-based Moody?s Investors Service are in the country to take a close look at how the Philippines is coping with the global financial crisis.

The team, headed by Moody?s senior vice president Thomas Byrne, will meet with officials of the Finance Department, the Bangko Sentral, the National Economic and Development Authority and other agencies starting today.

Moody?s is the first rating agency to visit the Philippines this year. Other agencies such as Standard & Poor?s and Fitch Ratings are also scheduled to come to the country and make their own assessments.

Last year, Moody?s upgraded the country?s credit rating outlook to positive from stable on the back of improving macroeconomic conditions and strong fiscal performance.

S&P and Fitch Ratings upgraded the Philippines? credit rating outlook to stable from negative earlier after the successful implementation of the Expanded Value Added Tax Act of 2005.