Published December 15, 2020, 3:45 PM The Issue Credit Rating for Arthaland Corporation’s (ALCO) P3.0 billion Fixed-rate ASEAN Green Bonds has been upgraded by Philippine Rating Services Corporation (PhilRatings) to PRS Aa,from PRS Aa minus. AStable Outlook was likewise assigned to the rating for the initial issuance in relation to the Company’s 3-year Shelf Registration of up to P6.0 billion. Obligations rated PRS Aaare of high quality and are subject to very low credit risk. The obligor’s capacity to meet its financial commitment on the obligation is very strong. PhilRatings said the rating and outlook were assigned given the clear strategic direction, resulting in global recognition as a real estate developer of dual certified (locally and internationally) green projects in the Philippines, leading to continued interest in its products.