Debt watcher keeps AA+ rating to Sta. Lucia
MANILA, March 3 (PNA) — A local debt watcher has maintained its AA+ rating to listed property developer Sta. Lucia Land Inc. (SLI) on its solid fundamentals.
SLI told the local bourse that Credit Rating and Investors Services Philippines Inc. (CRISP) cited its stable financial performance, expanding landbank and ongoing brand building activities.
“CRISP is pleased to note SLI’s stable financial performance, growth and stability through its successful joint venture strategy and its own expanding landbanking activities. CRISP is also very optimistic with the ongoing brand building activities that are expected to solidify SLI’s brand reputation and firm market acceptance,” said CRISP President Emmanuel Leyco.
SLI, on its 10th year as a public listed company, sees this as a testament to its continuing growth and excellence in its commitment to provide quality real estate developments.
SLI’s portfolio consists of horizontal and vertical properties across the country, as well as a shopping mall in Cainta, Rizal, namely, Sta. Lucia Mall.
The property developer has a total of 1.493 million square meters of joint venture agreements and land acquisitions of developable properties as it continues its strategic nationwide landbank expansion to start year 2017. (PNA)