CREIT Maintains PRS Aa+ Rating with Stable Outlook Empowering Investments in Energy REIT

CREIT Maintains PRS Aa+ Rating with Stable Outlook Empowering Investments in Energy REIT

CITICORE Energy REIT Corp. (CREIT), a leading energy Real Estate Investment Trust (REIT) in the Philippines, has consistently demonstrated its financial prowess and commitment to sustainability. Recently, CREIT retained its prestigious PRS Aa+ rating with a stable outlook from the Philippine Rating Services Corporation (PhilRatings), maintaining this ranking since 2022.

A Testament to Financial Strength and Sustainability

This PRS Aa+ credit rating for both our company as an issuer and our maiden ASEAN green bond is a testament to our strong financial position, profitability, and commitment to sustainability, said Oliver Tan, President and CEO of CREIT. We intend to continue empowering investments, ensuring that our debt instruments are trusted by creditors and investors.

Stable Outlook A Promise of Continued Excellence

The PRS Aa+ issuer rating signifies CREIT's overall creditworthiness, while the stable outlook indicates that this ranking is expected to remain unchanged in the next 12 months. This stability provides a sense of security for investors, allowing them to confidently invest in CREIT's growth and development.

Asean Green Bonds A Key Component of Sustainability

CREIT also received an issue credit rating of PRS Aa+ with a stable outlook for its ASEAN green bonds. In 2023, the company successfully raised P4.5 billion through an oversubscribed offering of these bonds, which were used to boost its green asset portfolio to a significant 7.1 million square meters.

Consistently Delivering Above-Prescribed Dividends

A 100% occupancy rate, leased out to solar operators and developers, and operating in a crisis-proof industry has allowed CREIT to consistently declare above-prescribed dividends since its listing in the stock market in 2022, the company noted. This commitment to delivering value to shareholders is a testament to CREIT's ability to adapt to changing market conditions.

Conclusion

As a leading energy REIT, CREIT's retention of the PRS Aa+ rating with a stable outlook serves as a beacon of confidence for investors and stakeholders alike. With its proven track record of financial performance, commitment to sustainability, and consistent dividend yields, CREIT is well-positioned for continued growth and success in the years to come.

Keywords CITICORE Energy REIT Corp., CREIT, PRS Aa+ rating, stable outlook, energy REIT, sustainability, green bonds, dividend yield.

Edward Lance Arellano Lorilla

CEO / Co-Founder

Enjoy the little things in life. For one day, you may look back and realize they were the big things. Many of life's failures are people who did not realize how close they were to success when they gave up.