Fitch: Globe Telecom cut to negative

Fitch Ratings said it revised the outlook on Globe Telecom Inc.'s long-term foreign currency rating to negative from stable. At the same time, Fitch affirmed the rating at BB.

The rating action reflects Fitch's decision to revise its outlook on the Republic of the Philippines' long-term ratings to negative from sable as Globe's rating is constrained by the sovereign foreign currency rating.

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