While sovereign ratings generally represent the highest creditworthiness within a country, Ayala’s rating highlights exceptional financial strength for a private company, whose business portfolio spans banking, telecommunications, real estate, manufacturing and electric cars.
JCR also recognized Ayala’s solid business segments, stable cash flows, and healthy financial balance.
“The rating enhances Ayala’s ability to tap credit and capital markets, broadening its investor base to include access to Samurai loans. Mizuho Bank acted as advisor for the company’s JCR rating,” Ayala said in a stock exchange filing on Monday.
Management’s view
“This is an affirmation of Ayala’s strong credit and further enhances funding sources amidst the current market volatilities,” said Estelito C. Biacora, treasurer of Ayala.
“While high interest rates are anticipated to persist, cost of capital is expected to remain competitive. When we have widened access to capital, we are more able to build businesses that enable people to thrive,” he added.
