PHILIPPINES – SM Prime Holdings, Inc (PSE:SMPH)’s proposed bond issue of up to Php20 billion has been assigned a rating of PRS Aaa, the highest possible rating, by the Philippine Ratings Services Corporation (Philratings).
Obligations rated PRS Aaa by Philratings are of the highest quality with minimal credit risk.
PhilRatings is the only domestic credit rating agency that is accredited by the Securities and Exchange Commission and recognized by the Bangko Sentral ng Pilipinas.
It is also a founding member of the Association of Credit Rating Agencies in Asia (ACRAA), which now counts 30 domestic credit rating agencies in the Asian region as its members.
In a disclosure to the Philippine Stock Exchange on Wednesday, SM Prime Holdings, Inc (PSE:SMPH) also said that the rating for SMPH’s outstanding bonds amounting to Php20 billion issued in September 2014 was likewise maintained at PRS Aaa.
“PRS Aaa is the highest rating assigned by Philratings, denoting that such obligations are of the highest quality with minimal credit risk and that the issuing company’s capacity to meet its financial commitment on the obligations is extremely strong,” SM Prime Holdings disclosed.
The company’s stock (PSE:SMPH) gained 2.74% in today’s trading session at the Philippine Stock Exchange to post a last trade price of Php20.65, its highest price for this week.
A total of 14.79 million shares worth Php303.82 million exchanged hands in today’s trading.
SM Prime Holdings, Inc. (SMPH) was incorporated on January 6, 1994.
The Company has now four business units, namely, malls, residential, commercial, and hotels and convention centers.
SMPH operates and maintains modern commercial shopping malls and is involved in all related businesses, such as the operation and maintenance of shopping spaces for rent, amusement centers and cinema theaters within the compound of the shopping malls. – BusinessNewsAsia.com