Fitch: Philippines bonds BB

Fitch Ratings said it assigned to the Republic of the Philippines' upcoming dollar-denominated global bonds due 2026 an expected BB rating.

The final rating is contingent on the receipt of final documents.

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

The outlook is stable.

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