Fitch rates Globe Telecom BB+

Fitch Ratings said it assigned a long-term local currency rating of BB+ with a stable outlook to Globe Telecom Inc.

At the same time, Fitch affirmed Globe's long-term foreign currency rating at BB. The outlook is negative.

"Globe's robust financial profile and entrenched market position should stand it in good stead to weather the threat of heightened competition," said Fitch's Jonathan Cornish.

"Its credit metrics are also supported by its historical approach to managing competition, which has not materially altered its financial position."

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