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| Brief Excerpt: | ...Investment-Grade Ratings: The portfolio is largely investment grade ¡ ranging from Bharti Airtel Limited (Bharti, BBB-/Stable) and Globe Telecom, Inc. (Globe, BBB-/Stable), to Singapore Telecommunications Limited (Singtel, A+/Stable) ¡ reflecting the strong underlying operating profiles and stability of the telecom sector. In some cases, the influence of higher-rated parents provide support to the standalone credit profiles (SCP), including Singtel (one- notch uplift), Telekom Malaysia Berhad (TM, A-/Negative, one-notch uplift), PT Indosat Tbk (Indosat Ooredoo, BBB+/Stable, three-notch uplift) and PT XL Axiata Tbk (XL, BBB/Stable, ratings linked to parent's creditworthiness). Fitch Ratings expects limited rating movements in the portfolio, with most of the issuers on Stable Outlook. TM's Negative Outlook underscores its weakening credit profile due to pressure on EBITDA, and high capex and dividends. Multi-Factor Rating Approach: Competitive position and leverage are key differentiating... |
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| Report Type: | |
| Company(ies) | PLDT Inc
, Singapore Telecommunications Ltd.
, KT Corporation
, Globe Telecom, Inc.
, SK Telecom Company, Ltd.
, Telekom Malaysia Bhd.
, PT TELKOM INDONESIA (PERSERO) TBK
, Advanced Info Services Public Company Limited
, Total Access Communication Public Company Limited
, PT Indosat Tbk
, Bharti Airtel Ltd
, PT XL Axiata Tbk |
| Ticker(s) | 17670
, 30200
, 4863
, 500054
, ADVANC
, DTAC
, EXCL
, GLO
, ISAT
, TLKM
, Z74 |
| Issuer | PT XLSMART Telecom Sejahtera Tbk |
| Format: | | PDF |  |
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