ROBINSONS Land Corp. (RLC) is looking to raise P20 billion through the issuance of bonds.
The company said the local credit rating firm, Philippine Rating Services Corp. (PhilRatings), has assigned an issue credit rating of PRS Aaa, with a “stable outlook,” for the bonds that is divided into an initial P10 billion and another P10 billion to cover the greenshoe option.
PRS Aaa is the highest credit rating on PhilRatings’ long-term issue credit rating scale. 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.
RLC said the assigned issue ratings took into account RLC’s solid competitive position. It also considered the company’s healthy liquidity, sound capitalization, and “solid fundamentals to temper the immediate adverse impact of the Luzon-wide enhanced community quarantine and the coronavirus disease 2019 pandemic in the short-term, and help recovery in the medium- to long-term.”
