S&P: Philippines bonds BB

Standard & Poor's said it assigned a BB senior unsecured debt rating to the proposed issue of dollar-denominated global bonds by the Republic of the Philippines.

The benchmark size issue matures in March 2026.

The strength of the Philippines' external balance sheet and favorable growth trajectory support the sovereign credit ratings on the country, the agency said.

High public sector and external debt and a weak fiscal profile constrain the ratings, S&P said.

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