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Globe ends deal

Tuesday, September 30, 2008
Globe ends deal

FOLLOWING the early redemption of its US$300 million senior notes in April 2007, Globe Telecom Inc. has decided not to renew its credit rating review agreement with Moody’s Investors Service.

Prior to the withdrawal of the rating, Moody’s had assigned a Baa1 local currency issuer rating on Globe.

Globe chief financial officer Delfin C. Gonzalez Jr., in a disclosure to the Philippine Stock Exchange, said the company will maintain credit rating agreements with at least one international ratings agency and one local ratings agency. (PR)

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(September 30, 2008 issue)
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