Vista Land secures highest CRISP rating

MANILA, Philippines - The country’s largest homebuilder, Vista Land, received the highest credit rating from Credit Rating and Investors Services Philippines, Inc. (CRISP) – ‘AAA’ issuer rating with a stable outlook.

In assigning the rating, CRISP noted the company’s leadership in the low-cost and affordable housing market, excellent financial performance, strong management team and a successful operating model.

 Vista Land leads all property developers in the country in the low-cost and affordable housing market segments. The company has built more than 250,000 homes located in 34 provinces, 73 cities and municipalities throughout the Philippines.

The rating agency also noted that the company has an operating model that can successfully replicate large-scale housing community projects in its large land-banked properties widely spread throughout the country.

CRISP also cited Vista Land’s excellent financial performance that in the last five years, the Company recorded a 22 percent average net income growth. During the same 5-year period, Vista Land’s EBITDA margins averaged 36 percent while its gross margins averaged 51 percent.

CRISP also believes that the Company’s leadership in the low-cost and affordable housing market segments will continue as a result of its strategic landbanking decisions and the growing demand in these sectors.

“We are happy and honored by this high credit rating. This is another proof of Vista Land’s sound financial and management performance, which enabled the company to weather all challenges and changes in the housing market,” said Manuel Villar, chairman of the company.

He added:  “A Triple A credit rating like this should encourage us to continue to deliver quality and affordable homes to a greater number of our countrymen – a vast majority of whom have been working very hard to give their families a home they could call their own.”

Manuel Paolo Villar, president & CEO of the company said: “We’re very glad that CRISP gave Vista Land its highest credit rating and hope that beyond numbers and ledgers, our work to provide affordable housing would continue to be much appreciated by our very own customers – who, at the end of the day, are our most vocal raters.”