Malaya Business Insight
Philippine Rating Services Corp. (PhilRatings) assigned an issuer credit rating of PRS A (corp.), with a stable outlook, for Cirtek Holdings Philippines Corp. (CHPC).
This is in relation to the company’s three-year shelf registration for commercial papers (CPs) of up to P2 billion.
A company rated PRS A (corp.) has an above average capacity to meet its financial commitments relative to that of other Philippine corporates.
The rating and outlook were assigned given the following key considerations: manageable liquidity and capitalization levels; the Cirtek Group’s established track record in the industry, supported by a strong and experienced management team that has navigated the Group through economic cycles, crises, and industry challenges; CHPC’s strong customer base of well-established and global companies, diversified in terms of region and industries; improved profit margins despite lower revenues, attributable to the company’s cost management efforts; and highly competitive and cyclical industry that is susceptible to adverse changes in various economies and characterized by the presence of larger international players.
Jan 12, 2021
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Sep 16, 2021
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Sep 16, 2020
A SUBSIDIARY of Cirtek Holdings Philippines Corp. has been awarded a contract to provide antenna to a telecommunications operator in the United States for fifth generation (5G) network rollout.Read more