Alsons CP gets ‘A+’ credit rating

ALSONS Consolidated Resources, Inc. (ACR) has obtained an “A+” issuer credit rating for its proposed P2-billion first tranche of its new commercial paper (CP) program of up to P3 billion that the company is targeting for listing and issuance within the year.

“We are glad that PhilRatings has demonstrated anew its confidence in ACR with a PRS A plus rating for our new CP program. We have once more deemed it favorable to tap the short-term capital markets for our working capital needs as we continue to pursue power projects that we hope will contribute to the economic recovery of our country, by helping create new jobs and stimulate the local economies in our project locations and in the areas where we operate,” ACR Deputy Chief Financial Officer Philip EB Sagun said in a statement on Friday.