Philippine Rating Services Corp. once again assigned a “PRS A plus (corp.)” with a stable outlook credit rating to Alsons Consolidated Resources Inc., the publicly listed company of the Alcantara Group.
“According to PhilRatings, a PRS A plus (corp.) ratings means the company has an above average capacity to meet its financial commitments relative to other Philippine corporates,” Alsons disclosed to the Philippine Stock Exchange on Tuesday.
PhilRatings cited the positive growth prospects in Mindanao “which will bring an increasing demand for power” and Alsons’ “ability to establish joint ventures with strong partners for particular projects.”
The stable outlook rating is given when a rating is likely to be maintained or remain unchanged in the next 12 months.
Alsons posted consolidated net earnings of ₱293.08 million in the first half, more than double from ₱120.30 million year-on-year.