Ayala Corp secures A-rating from Japan credit watchdog

Ayala Corp. (AC) is further enhancing its access to yen-denominated loans to fund growth initiatives at competitive rates after achieving a relatively high level of creditworthiness from Japan Credit Rating Agency Ltd. (JCR).

- By RICHMOND MERCURIO

JCR has assigned an inaugural foreign currency long-term issuer rating of A- to the country's oldest conglomerate.

An A- rating indicates a relatively high level of creditworthiness and suggests that AC has a strong capacity to meet its financial commitments.

AC said that the rating enhances the company's ability to tap credit and capital markets, broadening its investor base to include access to Samurai loans.

"This is an affirmation of Ayala's strong credit and further enhances funding sources amidst the current market volatilities," AC treasurer Estelito Biacora said.