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Fitch rates Philippines bonds
Fitch Ratings said it assigned an expected long-term rating of BB to the Republic of the Philippines' U.S. dollar-denominated global bonds yielding 9.375% and maturing in 2017.
The outlook is stable.
The bonds have been reopened with additional issuance of $250 million, taking the total amount outstanding for this tenure to $1 billion.
The proceeds from this new reopening will be used to meet the financing requirements of the National Power Corp.
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