S&P rates PLDT notes BBB+

S&P said it assigned its BBB+ long-term issue rating to the proposed issuance of dollar-denominated senior unsecured notes by PLDT Inc.

“We equalize the rating on PLDT’s proposed senior unsecured notes with the issuer credit rating on the company. This is because we do not view PLDT’s capital structure as having material structural or contractual subordination risks,” S&P said in a press release.

The company is expected to use the proceeds to refinance debt maturing in 2020 and 2021, prepay outstanding loans and partially finance capital expenditure.

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