Debt watcher CreditSights, part of the Fitch Group, is now looking at how those two worlds could collide and potentially shape the fortunes of the billionaire, founder of firms such as Vista Land & Lifescapes Inc. (VLL) and Villar Land.
Ties with Marcos cool
The firm said Villar’s ties with the Marcos administration have “seemingly cooled” as the family appeared to tilt toward the Duterte camp.
“Given the political alignments, an unfavorable impeachment outcome for Ms. Sara Duterte could be widely interpreted as negative for [Manuel Villar Jr.’s] empire including VLL,” CreditSights said.
The Duterte connection
CreditSights pointed to the Nacionalista Party’s alliance with former president Rodrigo Duterte’s PDP-Laban, Sen. Camille Villar’s adoption as a PDP-Laban guest Senate candidate and Sen. Mark Villar’s opposition to Sara Duterte’s impeachment.
It believes the Senate numbers make conviction difficult, while saying a Sara Duterte presidency in 2028 “could be supportive” for Villar and his group based on their current political alignment.
Politics runs in the family
Villar is himself a former Senate president and 2010 presidential candidate, while his wife Cynthia served two terms in the Senate and their children Mark and Camille are now both senators.
Why CreditSights is watching
CreditSights is weighing these political factors as Vista Land faces nearly P50 billion in identified bond maturities through August 2027 and works to secure funding.
Politics is only part of its assessment, with CreditSights also flagging weak financials, refinancing risks and what it called “deep governance concerns” at Vista Land.
Villar Group explores business options
The debt watcher nevertheless sees several ways for Vista Land to raise cash, including bank refinancing, shareholder support and potentially selling assets to outside buyers.
Vista Land management has identified as much as P15 billion in potential mall sales, while CreditSights also sees other investments and stakes across the Villar empire that could be tapped if more funding is needed.
—Edited by Miguel R. Camus
