Robinsons Land Corp. (RLC) received the highest credit rating from the Philippine Rating Services Corp. (PhilRatings) for its planned bond issuance. In a disclosure on Thursday, PhilRatings said Robinsons Land’s P10-billion issuance, which has an oversubscription option of up to P10 billion, was awarded the PRS Aaa issue credit rating with a stable outlook. PRS Aaa is the highest credit rating on PhilRatings’ long-term issue credit rating scale. Obligations given this rating are considered of highest quality with minimal credit risk. The Gokongwei-led real estate firm also received a PRS Aaa with a stable outlook for its outstanding bond issue of P12 billion. PhilRatings said it took into consideration Robinsons Land’s solid competitive position, healthy liquidity, sound capitalization and its solid fundamentals to temper the impact of the coronavirus pandemic. Robinsons Land shares fell by 44 centavos or 2.84 percent to close at P15.04 each on Thursday.
