Fitch rates Philippines bond BB

Fitch Ratings said it assigned a long-term foreign-currency rating of BB to the Republic of Philippines' dollar-denominated global bond due 2032.

The $0.5 billion bond is a re-opening of the Philippines' outstanding $1 billion 6.375% global bonds due 2032. The newly-issued bond is priced to yield 6.541% and this brings the total issue size of the 2032 bonds to $1.5 billion.

The outlook is stable.

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