Citicore Energy REIT Corp. has maintained its PRS Aa+ (corp.) issuer credit rating with a stable outlook from Philippine Rating Services Corp., affirming its position as a stable issuer in the sustainable infrastructure sector.
CREIT’s ASEAN Green Bonds also retained an issue credit rating of PRS Aa+ with a stable outlook. Since its debut in 2022, the company has consistently received these ratings, which PhilRatings attributed to several key drivers, including a unique, 100 percent occupied portfolio of green, income-generating assets; reputable and experienced shareholders; satisfactory profitability; and a healthy liquidity position with manageable leverage levels.
“Maintaining the PRS Aa+ rating both for CREIT as an issuer and for our maiden ASEAN Green Bond signals continued confidence in our business model, our stability, and our long-term value creation as the Philippines’ foremost renewable energy REIT,” CREIT president and chief executive Oliver Tan said.
PhilRatings defines the issuer credit rating as an indicator of a company’s overall creditworthiness and its ability to meet financial obligations within a one-year horizon. A PRS Aa rating denotes a strong capacity to meet financial commitments relative to other Philippine corporates, while the issue rating signifies high quality and very low credit risk. A stable outlook reflects the agency’s expectation that the rating will remain unchanged over the next 12 months.
CREIT’s oversubscribed P4.5 billion ASEAN Green Bond, issued in February 2023, funded the acquisition of renewable energy properties that expanded its green land portfolio to 7.1 million square meters. This established CREIT as the country’s largest renewable energy landlord.
In 2024 and 2025, the Institute of Corporate Directors also presented CREIT with Golden Arrow Awards, recognizing the company’s excellence in corporate governance based on the ASEAN Corporate Governance Scorecard.
“Our platform is built not only on securing resilient investments but is anchored on the trust and confidence of our investors,” Tan said. “As we continue to grow and expand our green asset portfolio, we remain fully committed to empowering sustainable investments and ensuring that the expectations and obligations to our shareholders are met.”
