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Philippine Long Distance Telephone Co. Jun 11 Product Image

Philippine Long Distance Telephone Co. Jun 11

  • Published: June 2011
  • Standard & Poors

Abstract
Country, macroeconomic, and transfer and convertibility risk of the Philippines High price competition with slowing domestic cellular subscriber growth Leading market position Solid cash flow measures The rating on Philippine Long Distance Telephone Co. (PLDT) reflects the country, macroeconomic, and transfer and convertibility (T&C) risk of the Philippines (foreign currency BB/Stable/B; local currency BB+/Stable/B; ASEAN scale axBBB+/axA-2). The rating also reflects the high price competition in the domestic market with slowing cellular subscriber growth. PLDT's leading position in the domestic market, diversified services, and solid cash flow measures temper these weaknesses. Our 'BB+' T&C assessment for the Philippines constrains the ratings on PLDT. Subscriber growth in the Philippine cellular market has slowed, with cellular penetration, including multiple subscriber identity module...

Companies mentioned in this report are: Philippine Long Distance Telephone Co.
Action: Review

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Philippine Long Distance Telephone Co.

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