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Prospect News home > News index > List of issuers P > Headlines for Philippine Long Distance Telephone Co. > News item |
Fitch upgrades Philippine Long Distance
Fitch Ratings said it upgraded the Philippine Long Distance Telephone Co.'s long-term foreign-currency issuer default rating and senior unsecured rating to BBB from BBB-.
The long-term local-currency issuer default rating and national long-term rating were affirmed at A- and AAA(phl), respectively.
The outlook is stable.
The upgrade follows a similar upgrade of the Philippines' sovereign ratings, Fitch said.
The ratings on Philippine Long Distance remain constrained by the Philippines' BBB country ceiling, reflecting the country's foreign-currency transfer and convertibility risk, Fitch said.
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