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D&L Industries Inc. has successfully raised P5 billion from its three- and five-year retail bond listed with the Philippine Dealing and Exchange Corp.
The bond received a PRS Aaa, with a stable outlook, rating from the Philippine Rating Services Corp. (PhilRatings).
The company said proceeds will be used to partially finance the company’s capital expenditures, including the completion of its Batangas expansion plant; to repay bridge loans; and for general corporate purposes.
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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. PRS Aaa is the highest rating assigned by PhilRatings. — Ruelle Albert Castro
