Moody's rates Philippines bond Ba3

Moody's Investors Service said it assigned a foreign-currency rating of Ba3 to the government of the Philippines' forthcoming global bond issuance.

The outlook is stable.

The rating is supported by the country's fortified external payments position and a relatively sound and liquid banking system, which poses manageable risks to the government's balance sheet, Moody's said.

The stable outlook also is influenced by mild inflationary pressures and the ability of the country's central bank to anchor inflationary expectations under its formal inflation-targeting framework, the agency said.

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