Fitch ups Globe Telecom view to stable

Fitch Ratings said it revised the outlook on the long-term foreign currency rating of the Philippines' Globe Telecom Inc. to stable from negative.

At the same time, Fitch said it has affirmed Globe's long-term foreign currency rating and that of the company's outstanding senior notes at BB.

Fitch said it also affirmed Globe's long-term local currency rating at BB+ and retained the stable outlook on this rating.

The rating actions reflect Fitch's recent decision to revise its outlook on the Republic of the Philippines' BB long-term foreign currency rating to stable from negative, the agency said.

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