BusinessWorld
January 13, 2021 | 12:04 am
CIRTEK Holdings Philippines Corp. has been assigned a PRS A mark by local debt watcher Philippine Rating Services Corp. (PhilRatings) in relation to its commercial papers of up to P2 billion.
In a statement on Tuesday, PhilRatings said it gave Cirtek an issuer credit rating of PRS A (corp.) for the company’s three-year shelf registration for commercial papers. The rating includes a stable outlook for the company, which means it is seen to remain unchanged for the next 12 months.
Companies with PRS A (corp.) rating mean they have above average ability to meet their respective financial commitments relative to other local corporates. However, the rating also means the company is somewhat more susceptible to adverse changes in economic conditions. Cirtek plans to raise up to P2 billion through the issuance of commercial papers to refinance debt and fund working capital requirements.
December 28, 2020 | 12:01 am Font Size
OUTLIER
DESPITE the lack of catalyst during last weekâs shortened trading, SM Prime Holdings, Inc. is expected by analysts to recover on the back of holiday spending as well as the gradual reopening of the economy.
A total of 26.73 million shares worth P1.022 billion were traded from Dec. 21 to 23, making SM Prime the third most actively traded issue last week, data from the Philippine Stock Exchange showed.
Financial markets were closed on Dec. 24 and 25 in observance of the Christmas holidays.
Shares in the Sy-led property developer inched up by 1.7% to P38.55 apiece last Wednesday from the P37.90 finish last Dec. 18. The stock has risen by 67.6% since the start of the year.