SM Prime Holdings Inc., the listed property developer of the SM Group, has secured an “Aaa” credit rating from Philippine Rating Services Corp. (Philratings) for its P20-billion bond issue, the second tranche of its P60-billion bond program under shelf registration.
In a statement on Monday, SM Prime said Philratings rated its P20-billion bond issue “PRS Aaa” and maintained the “PRS Aaa” rating for SM Prime’s P60-billion bond program, citing a “stable outlook” for both proposed and outstanding bonds.
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