Ayala Land Inc. gets top rating for P8-billion bond issue

MANILA, Philippines — Ayala Land Inc. has secured the top credit rating for its proposed P8 billion bond issuance from local credit watcher Philippine Rating Services Corp.

The five-year bond issue, which represents the last tranche of the company’s three-year debt securities program amounting to P50 billion, also obtained a stable outlook.

Obligations rated PRS Aaa are of the highest quality with minimal credit risk. This means the  issuer’s capacity to meet its financial commitment on the obligation is extremely strong. 

A stable outlook is assigned when a rating is likely to be maintained or to remain unchanged in the next 12 months.