Tuesday, April 24, 2018
  • share this

PLDT ratings raised

/ 05:14 AM December 15, 2017

Telco giant PLDT Inc. got a ratings lift on the heels of an upgrade on the Philippine sovereign rating by Fitch Ratings.

In a statement, Fitch Ratings announced the upgrade of PLDT’s long-term foreign currency issuer default rating, or IDR, to “BBB+” from “BBB.”

It also affirmed PLDT’s long-term local-currency IDR at “BBB+” while its national long-term rating stood at “AAA(phl)” with a “stable” outlook.


“The upgrade follows the upgrade of the Philippines’ country ceiling,” Fitch Ratings said.

Fitch said it considered PLDT’s significant market position, being one of two major telcos.

“PLDT competes against the country’s second-largest telecom operator, Globe Telecom, Inc. (BBB-/stable), and benefits from fully integrated fixed and mobile services, which enable convergence,” Fitch Ratings said.

“In addition, the joint acquisition of San Miguel Corp.’s telecom assets by PLDT and Globe should removes the threat of new competition in the medium term,” it added.

It likewise cited PLDT’s recovery after years of declining profitability.

“PLDT’s strategy change to focus more on profitability rather than market share should stabilize price competition and ease EBITDA [earnings before interest, taxes, depreciation, and amortization] margin pressure,” it said.

Don't miss out on the latest news and information.
View comments

Subscribe to INQUIRER PLUS to get access to The Philippine Daily Inquirer & other 70+ titles, share up to 5 gadgets, listen to the news, download as early as 4am & share articles on social media. Call 896 6000.

TAGS: fitch ratings, PLDT Inc., Ratings
For feedback, complaints, or inquiries, contact us.

Angel Aquino’s li’l angel is now a lady

April 25, 2018 12:10 AM


10 killed as van plows into Toronto crowd

April 24, 2018 11:50 PM


Shaina Magdayao says she’s not bothered by being single

April 24, 2018 09:52 PM


DOE holds 5th ‘E-Power Mo’ conference

April 24, 2018 09:12 PM

© Copyright 1997-2018 INQUIRER.net | All Rights Reserved