Globe gets stable outlook

Credit-rating agency Fitch Ratings has given a stable outlook to Globe Telecom Inc.’s (Globe) Long-Term Foreign- and Local-Currency Issuer Default Ratings (IDRs) at “BBB-”. The senior unsecured and National Long-Term Rating were also affirmed at “BBB-” and “AAA(PHL),” respectively.

Fitch said that the key rating driver is Globe’s solid market position, as the ratings reflect the firm’s status as the second-largest telecom operator in the duopoly like Philippine market after Philippine Long Distance Telephone Co. (PLDT)