Moody's retains PLDT rating at Baa2

Telco giant PLDT Inc. is expected to reduce its debts through the sale of data centers and mobile towers, allowing it to keep a stable outlook from New York-based Moody’s Ratings.

- ELIJAH FELICE ROSALES

In a statement, Moody’s said it is retaining PLDT’s Baa2 rating and stable outlook, confident that the telco would be able to improve its financial standing through 2026.

Moody’s vice president and Senior Credit Officer Nidhi Dhruv said PLDT is taking the right path in raising its creditworthiness by selling some of its high-value assets in exchange for cash.

Dhruv said PLDT is cutting its capital expenditures to achieve free cash flow next year.

The telco is also cashing in on the remaining proceeds of its tower sale and is looking to sign a minority partner for its data centers.