D&L Industries Inc., a listed chemicals and food ingredients manufacturer, has obtained the highest credit rating of PRS Aaa with a stable outlook for its proposed fixed rated bonds worth P5 billion.
Philippine Rating Services Corp.(PhilRatings) said obligations rated PRS Aaa are of the highest quality with minimal credit risk. This highest rating also indicates the issuer’s capacity to meet its financial commitment on the obligation is extremely strong.
D&L filed an application with the Securities and Exchange Commission to issue P3 billion worth of fixed rate bonds with an oversubscription option of up to P2 billion. The bonds will have tenors of three and five years.
In assigning the rating, PhilRatings considered the company’s strong market position in the industries it operates in as well as the diverse products it offers.