TEXT-S&P ratings - Power Sector Assets & Liabilities Management Corp.

(The following statement was released by the rating agency)

July 05 -

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Ratings -- Power Sector Assets & Liabilities Management Corp. ----- 05-Jul-2012

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CREDIT RATING: BB+/Stable/-- Country: Philippines

Primary SIC: Electric Services

Mult. CUSIP6: 73933B

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Credit Rating History:

Local currency Foreign currency

05-Jul-2012 BB+/-- BB+/--

12-Nov-2010 BB+/-- BB/--

19-Oct-2009 BB+/-- BB-/--

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Issues:

Guarantor(s) : Philippines (Republic of the)

Rating Rating Date

US$1.021 bil 7.25% guaranteed nts due

05/27/2019 BB+ 04-Jul-2012

US$1.179 bil 7.39% guaranteed nts due

12/02/2024 BB+ 04-Jul-2012