Ayala Land, Inc. new bonds get triple A rating

AYALA LAND, Inc. received the highest score from Philippine Rating Services Corp. ( PhilRatings) for the builder’s proposed issuance of fixedrate bonds amounting to P7 billion along with Homestarter bonds worth P3 billion.

In a statement issued on Thursday, PhilRatings said it assigned a “PRS Aaa” rating to the proposed bonds, which Ayala Land intends to issue as part of a three-year debt securities program totalling P50 billion.

The rating indicates the bonds have the highest quality with minimal credit risk. It also reflects the “extremely strong” capacity of the issuer to meet its financial commitment on the obligation.

PhilRatings provided a “stable” outlook on the PRS Aaa rating assigned to the proposed bonds of Ayala Land. This shows the debt watcher’s evaluation the score will likely be maintained in the next twelve months.

Ayala Land had previously issued P8 billion and P7 billion in fixed-rate retail bonds last March and April 2016, respectively, from the P50-billion debt securities program. These were likewise given a PRS Aaa rating with a stable outlook. —