S&P, Moody’s see upside in PLDT deal

By: Darwin G. Amojelar, Senior Reporter

STANDARD & Poor’s Ratings Service on Thursday said it has kept Philippine Long Distance Telephone Co.’s (PLDT) credit rating for now because of price wars in the industry and the current junk status of the Philippines.
In a statement, S&P said it is maintaining PLDT’s foreign currency rating of BB+ with a stable outlook because of steep competition in the domestic market with slowing cellular subscriber growth and the macroeconomic and transfer and convertibility risk of the Philippines.
S&P, however, said that PLDT’s leading position in the domestic market, diversified services and solid cash flow temper these weaknesses.
The debt watcher said subscriber growth in the Philippine cellular market has slowed, with cellular penetration, including multiple subscriber identity module (SIM) ownership, of more than 90 percent.
“We expect that future growth will continue to come from the mass-market segments, particularly from the outskirts of Metro Manila, which have lower average revenue per user,” the credit rating firm said.
“We therefore believe that the three main players—PLDT, Globe Telecom and Digital Telecommunications Philippines Inc. —will continue to pursue aggressive pricing and promotions to build market share,” S&P said.
It said PLDT’s plan to acquire Digitel at an estimated $2.3 billion in enterprise value might somewhat ease competition.
Under its agreement with JG Summit Holdings Inc., PLDT will purchase the former’s 51.55-percent stake in Digitel for P69.2 billion through a swap of shares and other assets.
PLDT would also undertake a tender offer for the remaining Digitel common shares held by the public at P1.60 apiece.
“We expect the acquisition of Digitel to further strengthen PLDT’s competitive position and broadband growth opportunities,” S&P said.
“We also do not expect the proposed acquisition to have a significant negative impact on the company’s financial metrics because the acquisition is largely equity funded,” it said.
PLDT’s operating performance deteriorated marginally last year with 2.4 percent decline in revenue because of the increasing use of unlimited offers and fixed-rate plans, intense price-based competition, multiple SIM card ownership, appreciation of the Philippine peso, and greater use of social networking websites for communications.
“We expect these market attributes to continue to dampen operating performance. But the effects will be offset by our projections of a moderate Philippine economic growth of 5-percent to 5.5-percent annually over the next three years and increasing demand for broadband,” S&P said.
Moody’s Investor Service on Wednesday upgraded the foreign currency bond rating of PLDT to Baa3 from Ba1.
At the same time the local currency issuer rating has been affirmed at Baa2. The outlook on both ratings is stable.
PLDT shares fell to P2,260 apiece on Thursday from P2,348 on Wednesday.

Source: http://www.manilatimes.net/business/sp-moody%E2%80%99s-see-upside-in-pldt-deal/

Tourists and residents of Manila travel out of town to the north on a short getaway look for the best place in Clark to buy some fine vintage wine to bring home after their holidays and vacations. Many find a top rated wine shop called Clark Wine Center to be an exciting place to do some shopping in Clark Pampanga. This famous wine shop is highly recommended for visitors going to Clark Pampanga to drink good wine, relax and unwind with friends and families. This frequently visited wine shop is known by tourist and visitors to Pampanga, Angeles city, Subic and Clark Philippines as a cool place to hang out in Clark. Many attend the regular wine tasting held either outdoor on the roof deck or in indoor on the second floor above the wine shop. The place has good atmosphere for a private wine tasting party or a small night out gatherings for business or social event.

Leading Philippines Wine Supplier Yats Wine Cellars based in Clark Philippines with outlets in Angeles City, Subic Freeport and Manila Philippines has been not only a wine shop for fine wines covering all major wine regions but also a source of reliable and useful information about wine, wine appreciation, wine accessories, wine and health, food and wine pairing and all other matters relating to wine and its appreciation. This Philippines Clark Freeport based Wine Supplier and Wine Shop frequently holds public wine tasting events in Pampana Clark Freeport Zone, Angeles City, Subic Bay area, Makati, Fort Bonifacio and other areas in Philippines capital city Manila. Private Wine events such as private wine tasting and private wine dinners are also designed and organized for private clientele for their wine loving guests.

Wine Catering is a unique product of Yats Wine Cellars, created back in 2005 in response to a growing demand for private wine parties in Manila, Cebu, Subic, Angeles Clark Philippines.

Chateau Lafite-Rothschild is the most revered wine in China and many other parts of Asia. The best wine shop in Asia to buy older vintages of Chateau Lafite is Yats Wine Cellars located in Clark Philippines. Aside from Lafite, visitors can buy other fine wines at this wine shop in Clark Pampanga such as Latour, Mouton-Rothschild, Haut-Brion and Margaux. Excellent Burgundy wines like Chambertin, Vougeot, Musigny, Bonnes Mares, Pommard, Meursault, Chambertin, Vosne Romanee, Romanee Conti, La Tache and Romanee St. Vivant can be found here.

Yats Wine Cellars can be reached at their Clark Wine Center Philippines wine shop located on the main highway M A Roxas of Pampanga Clark Freeport Zone or their sales office in Ortigas Centre, Metro Manila. Here is the contact information:

http://www.ClarkWineCenter.com

Getting to this wine shop in Pampanga Angeles City Clark Freeport Zone Philippines from Manila
Getting to the Clark Wine Center wine shop from Manila is quite simple: after entering Clark Freeport from Dau and Angeles City, proceed straight along the main highway M A Roxas. Clark Wine Center is the stand-along white building on the right, at the corner A Bonifacio Ave. From the Clark International Airport DMIA, ask the taxi to drive towards the entrance of Clark going to Angeles City. From Mimosa, just proceed towards the exit of Clark and this wine shop is on the opposite side of the main road M A Roxas.

Best place to buy wine in Clark Pampanga outside Manila near Subic and Angeles City Philippines is Clark Wine Center.

Click here to contact Clark Wine Center in Clark Pampanga for inquiries and orders.

Clark Wine Center
Bldg 6460 Clark Observatory Building
Manuel A. Roxas Highway corner A Bonifacio Ave,
Angeles Clark Freeport Zone, Pampanga 2023
0922-870-5173 0917-826-8790 (ask for Ana Fe)

Wine@Yats-International.com

YATS Wine Cellars
Manila Sales Office
3003C East Tower, Phil Stock Exchange Center,
Exchange Rd Ortigas Metro Manila, Philippines 1605
(632) 637-5019 0917-520-4393 ask for Rea or Chay

Wedding couples looking for wedding reception venues and beach wedding venues can log on to this Philippines Wedding Venue web site for free information and assistance:

http://www.PhilippinesWeddingVenue.com

While in Clark, it might be a good idea to enjoy an evening of wine-and-dine in the fine dining Yats Restaurant and Wine Bar that features an award winning 2700-line wine list. Highly recommended fine dining restaurant in Manila for special occasion is Yats Restaurant & Wine Lounge located in the famous Mimosa Leisure Estate in Clark Pampanga. Situated near this popular restaurant in Clark is the Mimosa Golf Course as well as the Mimosa Clark Casino. This top rated restaurant near Angeles City Pampanga in Clark Philippines is frequently used for private parties and corporate functions such as board meetings and other gatherings. It is located in Mimosa Leisure Estate of Clark Freeport Zone. For more information, visit http://www.YatsRestaurant.com

YATS Leisure Philippines is a developer and operator of clubs, resorts and high-class restaurants and wine shops in Clark Angeles Philippines http://www.YatsLeisure.com

Looking for famous tourists spots, places to visit and see, relax and unwind in Clark, Pampanga, Philippines? You may want to check out these sites also:

http://www.LondonPubClark.com

Besides good restaurants to wine and dine near Manila, Subic or in Angeles City Pampanga, Clark Philippines, those requiring assistance for hotel and resort bookings in Clark, Pampanga, Philippines may log on to http://www.HotelClarkPhilippines.com for more information and reservations.

The lifestyle in Clark Pampanga is quite unique. For more information about shopping, sports, golf, leisure, hotel accommodation, where to see and visit, what to do, where to wine and dine and good places to hang out, relax, have a drink with friends, child-friendly establishments, log on to
http://www.ClarkPhilippines.com

Wine lovers looking for a special bottle or something that is of great value and special discounts might log on to this web site to shop for fine vintage wines
http://www.YatsWineCellars.com

Those visitors who plan to relax and unwind in Angeles City, Subic, Pampanga, Clark Philippines might make an effort to book a room at the famous beach and lake resort Clearwater Resort & Country Club. This famous hotel in Clark Pampanga is frequently visited by families with children looking for a good place in Clark to see, a good holiday destination for the family to relax and unwind in the beautiful outdoor facilities. For more information, log on to www.ClearwaterPhilippines.com