Fitch affirms Globe Telecom

Fitch Ratings said it affirmed Globe Telecom, Inc.'s long-term foreign and local currency issuer default ratings at BBB-.

The agency also affirmed the senior unsecured rating at BBB- and national long-term rating at AAA(phl).

The outlook is stable.

“Globe's ratings reflect its established position as the second-largest telecom operator in the Philippines' duopoly market, and its moderate net leverage,” Fitch said in a news release.

“Rating headroom is likely to narrow as higher capex and ongoing dividend commitments will weigh on Globe's balance sheet.”

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.