RLC’s get top rating

The outstanding R12-billion bond issue of Robinsons Land Corporation (RLC), the real estate arm of the JG Summit Group, has kept its highest PRS Aaa rating from Philippine Rating Services Corporation (PhilRatings). The rating has a stable outlook.

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.

PhilRatings said the rating reflects RLC’s solid market position; its sound growth strategy, backed by quality management; its strong liquidity; and sound capitalization structure.

The rating also considers the favorable industry outlook for its businesses, supported by expectations of continued growth for the domestic economy.

RLC is the second largest mall operator in the Philippines. The company ended Fiscal Year (FY) 2015 with 40 shopping malls: Nine malls in Metro Manila, and 31 malls in major urban cities throughout the Philippines.

The company believes that competition for office space is driven by location, as well as the availability and quality of space. RLC considers as a competitive strength the strategic locations of its office buildings which, as part of RLC mixed-use development projects, are close to Robinsons malls and residences.

The company is the dominant landlord in the Ortigas Central Business District (CBD). RLC’s competitive position is further enhanced by its reputation for completing projects on time, and according to committed specifications.

Optimism in the domestic economy favors the real estate sector, with major property developers pushing ahead with their aggressive expansion plans covering all sectors of the economy. (JAL)