Philippine Rating Services assigned a PRS Aaa rating to SM Prime's (PSE:SMPH) proposed bond issue of up to 12 billion Philippine pesos, with an oversubscription option of up to 5 billion pesos.
The offering is the third tranche of the company's 100 billion shelf registration approved by the Securities and Exchange Commission in May 2024.
PhilRatings also maintained the PRS Aaa rating on the company's 141.5 billion in outstanding bonds, with a stable outlook.
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