Cirtek Holdings Philippines Corp. (CHPC) has received a PRS A (corp.) rating with a stable outlook from the Philippine Rating Services Corp. (PhilRatings), as the company plans to continue issuing up to P2 billion in commercial papers.
Cirtek Holdings Philippines Corp. has received a PRS A rating with a stable outlook from the Philippine Rating Services Corp. , as the company plans to continue issuing up to P2 billion in commercial papers.
It cited CHPC’s strong customer base which includes well-established global companies in different regions and industries, as well as the improvement in profits in the first nine months of 2021. “Although the outlook is positive at present, the industry is highly competitive, cyclical, and is susceptible to adverse changes in various economies, and is characterized by the presence of larger international players,” PhilRatings said.
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