Aboitiz hold­ing firm gets top credit rat­ing for P10-bil­lion re­tail bonds

Business World - - Corporate News - Denise A. Valdez

ABOITIZ Eq­uity Ven­tures, Inc. (AEV) has re­ceived the top credit rat­ing by a lo­cal debt watcher for its pro­posed P10-bil­lion fixed-rate re­tail bonds.

In a dis­clo­sure to the ex­change on Thurs­day, the con­glom­er­ate said its planned bond is­suance had been given a PRS Aaa credit rat­ing by Philip­pine Rat­ing Ser­vices Corp. (PhilRat­ings).

The com­pany an­nounced last week that it ap­plied to is­sue bonds at an ag­gre­gate amount of P5 bil­lion, with an over­sub­scrip­tion op­tion of up to P5 bil­lion. These bonds rep­re­sent the sec­ond tranche of AEV’s P30-bil­lion bond pro­gram.

On Thurs­day, AEV said that the pro­posal was given a PRS Aaa credit rat­ing by PhilRat­ings, which means the bonds are of high­est qual­ity and have min­i­mal credit risk. It also means the com­pany has an “ex­tremely strong” ca­pac­ity to meet its fi­nan­cial obli­ga­tion. —

Newspapers in English

Newspapers from Philippines

© PressReader. All rights reserved.