S&P affirms Psalm

S&P said it affirmed its BBB long-term issuer credit rating on Power Sector Assets and Liabilities Management Corp. (Psalm).

The outlook remains stable.

The agency said it affirmed the rating to reflect an opinion that there is an almost certain likelihood that the Republic of the Philippines (BBB/stable/A-2) would provide timely and sufficient extraordinary support to Psalm in the event of financial distress.

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