Fitch Rates Philippines' USD Bond 'BBB-(EXP)'
(The following statement was released by the rating agency) HONG KONG, January 18 (Fitch) Fitch Ratings has assigned the Philippines' forthcoming US dollar-denominated bonds an expected rating of 'BBB-(EXP)'. The Philippines intends to use the proceeds from the bond sale to pay the purchase price and accrued interest of its own securities repurchased in an associated debt management operation. Residual proceeds may be used for general budget financing purposes. KEY RATING DRIVERS The expect