Published May 5, 2021, 5:06 PM
Diversified conglomerate San Miguel Corporation’s planned offering of up to P30 billion in fixed-rate peso-denominated bonds has been given the highest issue credit rating of PRS Aaa by Philippine Rating Services Corporation (PhilRatings).
SMC is planning a bond issuance of P20 billion, with an Oversubscription Option of up to P10 billion. This will be the first issuance of SMC in relation to its three-year Shelf Registration of Bonds of up to P50 billion from 2021 to 2024.
PhilRatings said it has also maintained its issue credit rating of PRS Aaa, with a Stable Outlook, for the company’s P60 billion in outstanding rated bonds.
Published March 16, 2021, 4:54 PM
Energy Development Corporation (EDC) is planning to issue P3 billion worth of Green Bonds with an oversubscription option of up to P2 billion.
Philippine Rating Services Corporation (PhilRatings) said it has assigned its highest issue credit rating of PRS Aaa, with a Stable Outlook, for EDC’s proposed Green Bonds.
PhilRatings also maintained its top issue credit rating of PRS Aaa, with a Stable Outlook, for EDC’s outstanding P4.0 billion Fixed-rate Bonds due in 2023.
Obligations rated PRS Aaa are of the highest quality with minimal credit risk. The obligor’s capacity to meet its financial commitment on the obligation is extremely strong.
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Published March 8, 2021, 4:55 PM
Robinsons Bank Corporation, a member of the Gokongwei group of companies, has received a PRS Aa (corp.) issuer credit rating in relation to its outstanding Fixed-Rate bond issue of P5.0 billion due in November 2021.
Philippine Rating Services Corporation (PhilRatings) said it has also assigned an issue credit rating of PRS Aa for the bank’s outstanding P5.0 billion bonds due on August 13, 2021.
The ratings firm said an issuer credit rating of PRS Aa (corp.) differs from the highest rated corporates only to a small degree and has a strong capacity to meet its financial commitments relative to that of other Philippine corporates.
The transaction consists of one tranche of Senior Notes and one tranche of Subordinated Notes.
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The Class A Senior Notes are worth P150.0 million and shall be amortized using the Controlled Amortization method with a pre-defined amortization schedule during the Controlled Amortization Period.
The Class B Subordinated Notes are worth P169.322 million, and will be amortized after all Senior Notes have been settled, with variable interest payable quarterly.
Philippine Rating Services Corporation (PhilRatings) said it has affirmed the Conditional Credit Ratings of PRS A plus for the Class A Senior Notes, and PRS Ba for the Class B Subordinated Notes into Final Ratings.