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Megaword’s bond maintains triple A rating

[ Malaya.com.ph ] January 13, 2011
Megaworld Corp.’s P5 billion fixed rate bond issue has maintained the highest credit rating of "AAA" from Credit Rating and Investors Services Philippines, Inc. (CRISP) due to impressive net income growth.
The bonds, maturing in 2015, recently underwent a review.
In assigning AAA the rating, CRISP considered MEG’s exceptional track record in the real estate industry, strong property sales and leasing income, and continued dominance in the high growth market segments that comprise the middle-income residential market and BPO office developments.
"CRISP continues to believe that Megaworld’s strong financial performance and landbanking strategy would provide the necessary resources to protect its leadership in the mid-income and BPO market segments," said CRISP.
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