Cirtek retains PRS A rating

Jan 13, 2021

Cirtek retains PRS A rating

Manila Bulletin by James A. Loyola

Philippine Rating Services Corporation (PhilRatings) has maintained its “A” rating for Cirtek Holdings Philippines Corporation.

In a statement, the ratings firm said it has assigned Cirtek an Issuer Credit Rating of PRS A (corp.), with a Stable Outlook.

A company rated PRS A (corp.)has an above average capacity to meet its financial commitments relative to that of other Philippine corporates.

The company, however, is somewhat more susceptible to adverse changes in circumstances and economic conditions than higher-rated corporates.

On the other hand, a Stable Outlook means the rating is likely to be maintained or to remain unchanged in the next twelve months.

PhilRatings said the rating and outlook were assigned to Cirtek given the firm’s manageable liquidity and capitalization levels and 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.

It also too into consideration Cirtek’s strong customer base of well-established and global companies, diversified in terms of region and industries.

PhilRatings also cited Cirtek’s improved profit margins despite lower revenues, attributable to the company’s cost management efforts; and the highly competitive and cyclical industry that is susceptible to adverse changes in various economies and characterized by the presence of larger international players.

Cirtek is a fully integrated global technology company focused on wireless communication. It is an independent, complete solutions provider for subcontract manufacturing of semiconductor devices and

provides a broad range of assembly and testing services for various product applications and industries. It is primarily engaged into the design, development and delivery of the wireless industry’s antenna solutions; the manufacture of valued-added, highly integrated technology products; and the manufacture and sales of semiconductor packages as an independent subcontractor for outsourced semiconductor assembly, test and packaging services.

  • Oct 27, 2021

    Cirtek Holdings receives SEC’s nod to sell P3.5-b preferred shares

    Published by Manila Standard

    The Securities and Exchange Commission said Wednesday it approved the P3.5-billion preferred shares offering of semiconductor manufacturer Cirtek Holdings Philippines Corp. Cirtek was allowed to register and offer up to 50 million preferred shares at a price of P50 apiece, with an oversubscription option for another 20 million preferred shares. The company has yet to set the dividend rate for the preferred shares. The preferred shares will be listed and traded on the main board of the Philippine Stock Exchange. Cirtek will use the net proceeds from the offering wil...

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  • Oct 27, 2021

    Cirtek aims to raise ₧3.5B from preferred shares offer

    Published by Business Mirror

    The Securities and Exchange Commission (SEC) has approved Cirtek Holdings Philippines Corp.’s public offering of up to P3.5 billion worth of preferred shares.

    In its en banc meeting, the agency approved the registration statement of Cirtek covering 50 million preferred B-2 Subseries C and D shares at an offer price of P50 per preferred share, with an oversubscription option of up to 20 million preferred shares.

    The preferred shares will be listed and traded on the Main Board of the Philippine Stock Exchange (PSE).

    The Laguna-based manufacturer expects to net P3.44 ...

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  • Jul 08, 2020

    Press Release  -  July 08, 2020

    Press Release - July 08, 2020

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