Fitch affirms Philippine long Distance

Fitch Ratings said it affirmed Philippine long Distance Telephone Co.'s long-term foreign-currency issuer default rating at BB+, local-currency issuer default ratings at BBB, national long-term rating at AAA(phl) and global bonds and senior notes at BB+.

The outlook is stable.

The ratings reflect its position as the Philippines' incumbent operator, with diversified and integrated operations across fixed-line services, cellular services, wired and wireless broadband services and internet services, Fitch said.

The company is well-positioned to capitalize on growth opportunities in consumer broadband and business process outsourcing, which could help offset slowing growth in its core segments, the agency said.

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