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17.04.2015 04:00:00
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Philippine Long Distance Telephone Company -- Moody's: Reduction in Meralco investment mildly credit positive for PLDT, no impact on rating
Hong Kong, April 17, 2015 -- Moody's Investors Service says that Philippine Long Distance Telephone Company's (PLDT, Baa2 stable) sale of shares in Manila Electric Company (Meralco, unrated) to Metro Pacific Investments Corp (MPIC, unrated) is mildly credit positive although it will not affect PLDT's Baa2 rating and stable outlook. PLDT could potentially receive PHP4 billion from the transaction.
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