Fitch ups Philippine Long Distance outlook to stable

Fitch Ratings said it revised the outlook on Philippine Long Distance Telephone Co.'s (PLDT) long-term foreign currency rating to stable from negative and affirmed its BB long-term foreign currency rating, BB global bonds, BB senior notes, B+ convertible preferred stock and BB+ long-term local currency rating. The outlook is stable.

The outlook revision follows a similar change in Fitch's outlook on the Republic of the Philippines' BB foreign currency and BB+ local currency ratings to stable from negative.

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