Fitch Ratings on 18 August has upgraded Globe Telecom Inc's ("Globe") Long-term foreign currency Issuer Default Rating ("IDR") to 'BB+' from 'BB'.
The Outlook is Stable. At the same time, Fitch has upgraded Globe's senior unsecured debt instruments to 'BB+' from 'BB' while it also affirmed Globe's Long-term local currency IDR of 'BB+' with a Positive Outlook and National Long-term rating of 'AAA(phl)' with a Stable Outlook.
Today's ratings action follows the announcement by Fitch that it has upgraded the Country Ceiling on the Republic of the Philippines to 'BB+' from 'BB'.