Philippine Rating Services assigned a "PRS Aaa" credit rating to Filinvest Land's (PSE:FLI) proposed 9 billion Philippine pesos bond issuance.
The debt securities have an oversubscription option of up to 3 billion pesos, according to a Monday Philippine bourse filing.
The rating agency also reaffirmed the "PRS Aaa" rating for the property developer's outstanding bonds totaling 36.1 billion pesos.
The rating reflects the highest quality with minimal credit risk, indicating an extremely strong capacity of the company to meet its financial obligations, the filing said.
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