Fitch rates Philippines bonds BB

Fitch Ratings said it assigned a BB rating to the Republic of the Philippines' upcoming benchmark Philippine-peso denominated global bonds due 2021.

As the currency of settlement is specified as U.S. dollars, the rating is in line with the Philippine sovereign's long-term foreign-currency issuer default rating. Philippines' long-term local-currency issuer default rating is BB+.

The outlook is stable.

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