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Thursday, December 7, 2023

Filinvest Land gets top rating for P12-b bonds

Property developer Filinvest Land Inc. (FLI) said Monday it received the highest rating for its P12-billion fixed bond offering.

FLI said in a disclosure to the stock the bonds were assigned a PRS Aaa, which indicates that the obligor’s capacity to meet its financial commitment on the obligation is “extremely strong.”

The same PRS Aaa rating was also assigned to FLI’s outstanding bonds, totaling P35.4 billion.

“We are delighted to receive a PRS Aaa rating from PhilRatings for our proposed bond issuance. This rating reflects our healthy fundamentals and underscores our constant focus on growth and financial sustainability. We are grateful for PhilRatings’ trust and confidence in Filinvest Land and aim to continue building the Filipino dream through our various property developments,” said FLI president and chief executive Tristan Las Marias.

The company said it would use the proceeds from the bond offering for capital expenditures and debt refinancing.

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