C06423-2023 |
Title of Each Class | Number of Shares of Common Stock Outstanding and Amount of Debt Outstanding | |
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Common Stock P1 Par Value | 5,630,225,457 | |
Amount of Debt Outstanding (As of June 30, 2023) | 373,682,368,000 |
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Subject of the Disclosure |
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Issuance of Credit Rating by PhilRatings for the 2023 Bonds |
Background/Description of the Disclosure |
The Philippine Ratings Services Corporation ("PhilRatings") assigned a credit rating of "PRS Aaa" with a Stable Outlook on Aboitiz Equity Ventures Inc.’s (“AEV” or the “Company”) fixed-rate retail bonds issuance amounting to an aggregate principal amount of up to ₱17.45 billion (bn), inclusive of oversubscription (the “2023 Bonds”). According to PhilRatings, obligations rated "PRS Aaa" are of the highest quality with minimal credit risk, an indication of the extremely strong capacity of the obligor to meet its financial commitment on the obligation. A Stable Outlook means that "The rating is likely to be maintained or to remain unchanged in the next 12 months." The rating and outlook were assigned based on the following key considerations: a) AEV’s experienced shareholders and management, with a strong track record; b) its highly diversified investment portfolio which cushioned the adverse impact of external headwinds on some of the Company’s businesses in the first half of 2023 (1H2023); c) the Company’s sound growth strategies, with a particular focus on digitalization and portfolio diversification; d) its sustained profitability; and e) its manageable leverage and liquidity positions. |
Other Relevant Information |
Please see attached. |
Name | Sammy Dave Santos |
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Designation | Senior Associate General Counsel |