Fitch gives Philippines bonds BBB

Fitch Ratings said it assigned the Philippines' yen-denominated bonds a long-term rating of BBB.

The ¥107.2 billion 0.38% bonds will mature in August 2021, the ¥6.2 billion 0.54% bonds in August 2023, and ¥40.8 billion 0.99% bonds in August 2028.

The agency said the rating is in line with the Philippines' long-term foreign-currency issuer default rating of BBB with a stable outlook.

Fitch said the rating on the bonds would be sensitive to any changes in the Philippines' long-term foreign-currency issuer default rating.

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