(The Philippine Star)
MANILA, Philippines - JG Summit Holdings Inc.’s proposed bond issue worth up to P10 billion has been given the highest rating on PhilRatings’ scale.
The five-year bond issue was issued a PRS Aaa rating, which denotes that such obligations “are of the highest quality with minimal credit risk and that the obligor’s capacity to meet its financial commitment on the obligation is extremely strong.”
In assigning the rating, domestic credit ratings firm PhilRatings took into consideration JG Summit’s key strengths: an investment portfolio which provides diversity in growth and earnings, established market position of major subsidiaries, strong management team, sound liquidity and improving profitability.
JG Summit, one of the largest and most diversified conglomerates in the country, is a holding company for a group of companies which includes Universal Robina Corp. (branded consumer foods, agro-industrial and commodity food products), Robinsons Land Corp. (property development and hotel management), Digital Telecommunications Philippines Inc. (telecommunications), Cebu Air Inc. (air transportation), JG Summit Petrochemicals Corp. (petrochemicals) and Robinsons Savings Bank (banking services).
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