Moody's may cut National Power

Moody's Investors Service has placed on review for possible downgrade the foreign currency and local currency Ba2 debt ratings of National Power Corp.

This rating action follows Moody's decision to place the Philippines' Ba2 long-term foreign currency country ceiling for bonds as well as the Ba2 local currency rating of the government on review for possible downgrade.

Moody's said National Power's Ba2 ratings reflect the Philippines government's unconditional and irrevocable guarantee for its rated senior unsecured debts.

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