MANILA, Nov. 28 -- Executive Secretary Ralph Recto said Friday the Philippines' "BBB+" high investment-grade rating with a positive outlook demonstrates investors' strong vote of confidence in President Ferdinand R. Marcos Jr.'s leadership.

Recto issued the statement after S&P Global Ratings on Thursday affirmed its "BBB+" long-term and "A-2" short-term ratings on the Philippines, noting that the slowdown in public infrastructure spending is expected to be temporary.

"Patunay po ito na nanatiling matatag ang tiwala at kumpiyansa ng mga investors sa pamamalakad ng Marcos Jr. administration sa ating bansa (This is proof that investors' trust and confidence in the Marcos Jr. administration's governance of our country remain strong), and we...