HONG KONG (AFX) – Standard and Poor’s Ratings Services said it has lowered its foreign currency corporate credit rating on Manila Electric Co to ‘B-‘ from ‘B+’ reflecting growing liquidity pressures on the company and a very difficult business environment. The rating was also removed from CreditWatch, placed with negative implications in November 2002. The…
PHILIPPINES: Meralco forex rating cut to B- vs B+; off Creditwatch; outlook negative – S&P
Posted on April 8, 2003 by EnergyAsia