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Fitch affirms Philippines bonds
Fitch Ratings said it affirmed its long-term BB rating for the Republic of the Philippines' U.S. dollar-denominated global bonds yielding 8.375% and maturing in 2011 and on the Republic of the Philippines' global bonds yielding 8.25% maturing in 2014.
The outlook is stable.
The bonds have been reopened with additional issuance of $200 million for each bond, taking the total amounts outstanding to $1.5 billion for the global bonds due 2011 and to $1.7 billion for the global bonds due 2014.
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