D&L Industries Inc. has retained the highest rating for its P5- billion bond from Philippine Rating Services Corp. (PhilRatings), with the credit rater maintaining the company 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.
PRS Aaa is the highest rating assigned by PhilRatings.
A stable outlook is assigned when a rating is likely to be maintained or to remain unchanged in the next 12 months.
D&L said that rating and outlook were assigned given the company’s strong market position in the industries that D&L is engaged in; the diversification of products offered and markets served; its innovation-driven specialty products that protect the company from keen competition and ensure continued demand from customers; relatively stable margins ; and conservative debt management and adequate cash flow generation.
D&L closed 20203 with a profit of P2.3 billion over revenues of P33.5 billion.
Alvin Lao, D&L president, earlier said “green shoots” are starting to emerge in the company’s business as its high margin specialty products experience volume growth across the board.
