SMIC’s Proposed Bond Issue Assigned PRS Aaa Rating By Philippine Rating Services Corporation

SM Investments Corporation announced that the Philippine Rating Services Corporation (PhilRatings) assigned a rating of PRS Aaa to SMIC’s proposed bond issue of P15.0 Billion, with an oversubscription option of P5.0 Billion, for a maximum aggregate amount of P20.0 Billion. The bonds are part of the shelf offering of up to P50.0 Billion in bonds that SMIC plans to undertake in the next three years.

The rating for SMIC’s outstanding bonds amounting to P27.3 Billion was likewise maintained at PRS Aaa.

PhilRatings assigned a Stable outlook for the ratings for the proposed and outstanding bonds.

PRS Aaa is the highest rating assigned by PhilRatings, denoting that such obligations are of the highest quality with minimal credit risk and that the issuing company’s capacity to meet its financial commitment on the obligations is extremely strong.