GMA News Online
By TED CORDERO, GMA News
Cirtek Holdings Philippines Corp. has been assigned an above average capability to fulfill financial obligations by a local debt watcher.
In a disclosure to the Philippine Stock Exchange on Tuesday, Cirtek said the Philippine Rating Services Corp. (PhilRatings) gave the listed electronic manufacturer a “PRS A (corp.)” credit rating in relation to its three-year shelf registration for commercial papers (CPs) of up to P2 billion.
Based on PhilRating’s credit rating system, 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, according to PhilRatings.
The debt watcher also gave Cirtek a stable outlook as “an indication as to the possible direction of any rating change within a one-year period and serves as a further refinement to the assigned credit rating for the guidance of investors, regulators, and the general public.
A stable outlook is defined as “the rating is likely to be maintained or to remain unchanged in the next twelve months.”
Cirtek is a fully integrated global technology company focused on wireless communication.
It is primarily engaged into the following related businesses:
the design, development and delivery of the wireless industry’s antenna solutions the manufacture of valued-added, highly integrated technology products the manufacture and sales of semiconductor packages as an independent subcontractor for outsourced semiconductor assembly, test and packaging services
For the first nine months of 2020, consolidated revenues fell by 14.4% year-on-year to $59.5 million.
Net income registered a decrease of 1.7% year-on-year to $3.6 million. -MDM, GMA News
Jul 14, 2021
Published By VG CABUAG BusinessMirror
Quintel USA Inc., a unit of Laguna-based Cirtek Holdings Philippines Corp., on Monday said it has extended its master supply agreement with two major leading carriers in North America.
The extension of the agreement allows Quintel another 5 years of secured business with these two telcos, the firm said.
“Quintel is poised to grow its business in the near to medium term as evidenced by the relevance of its pioneering products that has been well received by our customers. Our products allow carriers to stay ahead of their game and maximize 5G services in the...
Read moreJan 14, 2025
Published by Manila Standard
Analog Devices Inc. (ADI), an American multinational semiconductor company specializing in data conversion, signal processing and power management technology, recognized Cirtek Advanced Technologies and Solutions Inc. (CATSI) as the No. 1 contract manufacturer worldwide for the evaluation boards product line (EBPL) for the fourth quarter of 2024.
CATSI previously held the No. 3 position in the first quarter and second quarter of the year while inching up to No. 2 at the end of third quarter 2024.
The EBPL is an essential business unit of ADI that allows the company...
Read moreAug 16, 2021
Publishehd by Rappler
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