Globe Telecom Inc. is not planning to raise funds via the international capital markets soon. Hence, the telco decided to end its credit rating review agreement with Standard and Poor’s (S&P).

Before Globe decided not to renew its rating review contract, S&P affirmed the telco’s BB+ corporate credit rating, with a stable outlook. S&P also affirmed its axBBB+ASEAN scale rating on the company.

At present, Globe has a PRS Aaa rating from local credit rating firm, Phil Ratings. This is the highest possible rating signifying the smallest degree of investment risk.

Given the liquidity of the domestic debt markets and the availability of competitively priced funds from domestic and overseas banks and export credit agencies, Globe has no immediate plans to go to the international capital markets for its cash requirements, stated Globe Chief Financial Officer Delfin C. Gonzalez Jr., in Wednesday’s disclosure to Philippine Stock Exchange (PSE).