Govt’s euro bond issue gets investment grade

International credit rating agencies have assigned investment grade scores on the government’s planned 500-million euro ($554-million) bond issuance.

In a statement, S&P Global Ratings said it “assigned its ‘BBB+’ long-term foreign currency issue rating to the proposed benchmark-size euro-denominated senior unsecured notes to be issued by the Republic of the Philippines (BBB+/Stable/A-2).”