Aboitiz Power Corp.’s (AboitizPower) proposed bond issuance of up to P30 billion has received the highest credit rating of PRS Aaa, with a Stable Outlook, from the Philippine Rating Services Corporation (PhilRatings).
The bond offer includes a base amount of P20 billion and an oversubscription option of up to P10 billion. This is the initial tranche under AboitizPower’s new three-year shelf registration program worth up to P100 billion.
It plans to issue the first tranche during the second quarter of 2025, subject to market conditions. The proceeds of the bonds will be used to refinance corporate debts,
Meanwhile, PhilRatings also affirmed its PRS Aaa rating with a Stable Outlook for AboitizPower’s total outstanding bonds amounting to P43.3 billion. The PRS Aaa rating signifies obligations of the highest quality with minimal credit risk.
Obligations rated PRS Aaa are of the highest quality with minimal credit risk. It means that the company’s capacity to meet its financial commitment on the obligation is extremely strong.
