By James A. Loyola
Vista Land & Lifescapes, Inc., one of the country’s leading integrated property developers and the largest homebuilder, has maintained its triple A issuer rating.
Vista Land is planning to offer to the public Philippine Peso-Denominated fixed-rate retail bonds with an aggregate amount of up to P5 billion with an oversubscription option of up to P5 billion from its remaining P15 Billion shelf-registered bonds.
“We welcome the affirmation of our ‘AAA’ rating by CRISP. This affirmation fuels our drive to continuously deliver quality homes to an increasing number of Filipinos and provide them with a quality lifestyle through our integrated development – Communicities,” said Vista Land Chairman Manuel B. Villar, Jr.
He added that, “this is again proof that we have put in place a company with a strong management team and a business model that can withstand challenges such as the recent rise of inflation.”
Vista Land President & CEO Manuel Paolo Villar said “we are very glad that our efforts were noticed in CRISP’s latest pronouncement affirming our ‘AAA’ rating and hope that our work to provide quality homes and lifestyle would continue to be appreciated by our very own customers.”
In the official rating letter issued by the Credit Rating Investor’s Services Philippines, Inc. (CRISP), the debt watcher reaffirmed its highest rating for Vista Land with a Stable Outlook.
This is due to the Company’s sustained leadership in the low cost and affordable housing market, continuing national coverage and strategic landbanking initiatives, and strong financial performance.
CRISP also cited Vista Land’s strong management team and that the Company’s operating model enables it to replicate large-scale housing community projects.
Its scalable, standardized processes and technologies allow the Company to efficiently build and deliver high-quality houses and lot packages.