Alsons Consolidated Resources Inc. (ACR), a Mindanao-based firm owned by the Alcantara Group, said it received a higher issuer credit rating of PRS Aa (corp.) from the Philippine Rating Services Corp. (PhilRatings).
The new rating is an upgrade from the PRS Aa- rating assigned by PhilRatings last year, which also covered ACR’s P3-billion commercial paper program. Of that program, P1.156 billion remains outstanding as of Nov. 17, 2025.
PhilRatings cited ACR’s strategic partnerships, diversified business portfolio in power and land development, expansion initiatives and consistent profitability supported by positive operating cash flows as reasons for the higher rating.
A PRS Aa rating differs only to a small degree from the highest-rated corporates and reflects a strong and reliable capacity to meet financial obligations compared with other Philippine companies. The stable outlook indicates the rating is expected to be maintained over the next 12 months.
“The higher credit rating from PhilRatings reflects confidence in the Group’s purpose, business stability, financial strength and strategic direction,” said ACR chief financial officer Roberto Joaquin Ramos.
Ramos said the trust amplifies the firm’s motivation to provide “a more efficient, reliable and sustainable energy in the regions we serve,” and that its “expansion in various hydro and solar power projects in Mindanao and the Visayas reinforces our position as a trusted energy partner.”
ACR operates six power plants across the Visayas and Mindanao with a combined installed capacity of about 515 megawatts. These include Sarangani Energy Corp. in Sarangani, Western Mindanao Power Corp. in Zamboanga City, Mapalad Power Corp. in Iligan, Mapalad Power Corp. in Ubay, Southern Philippines Power Corp. (SPPC) in Alabel and Siguil Hydro Power Corp. in Sarangani.
The company is focused on expanding and diversifying its power portfolio through a pipeline of new hydro and conventional projects, complemented by solar developments.
Once completed, the projects are expected to increase total capacity, broaden ACR’s generation mix, boost renewable capacity and improve supply reliability across Mindanao and the Visayas.
ACR recently completed its backup power project in Bohol, helping enhance supply reliability in the Visayas grid. These developments come as the Mindanao-Visayas Interconnection Project, which was fully energized in 2024, strengthens power system integration across regions.
