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Manila Bulletin devider Business devider The Stock Market devider Megawide retains very strong rating for ₱9-billion bonds

Megawide retains very strong rating for ₱9-billion bonds

Published Aug 14, 2025 11:33 am
Philippine Rating Services Corp. (PhilRatings) has maintained its very strong issue credit rating of PRS Aa, with a stable outlook, for Megawide Construction Corp.’s ₱9-billion outstanding bonds.
Obligations rated PRS Aa are of high quality and are subject to very low credit risk. The obligor’s capacity to meet its financial commitment on the obligation is very strong. A stable outlook means the assigned rating is likely to be unchanged in the next 12 months.
PhilRatings said the bonds’ assigned rating and outlook took into account Megawide’s solid brand and track record and its vertical integrations that increase operational synergies and contractual engagements.
Also considered are the increased diversification of Megawide’s continuing segments, favorable industry outlook and opportunities, and sustained recovery in the company’s profitability.
Megawide is one of the country’s rapidly growing infrastructure conglomerates, with a portfolio in engineering, procurement, and construction (EPC), airport and landport infrastructure, and property development.
With its track record of key infrastructure construction and adding to its list of public-private partnership (PPP) projects, Megawide was awarded in November 2024 the contract to design and construct the terminal building at Caticlan Airport, which broke ground last month.
In December 2024, the company and its partner also secured the contract for the Cavite bus rapid transit (BRT) project, phase one of which is currently ongoing.
Megawide secured 17 new contracts amounting to ₱17.2 billion for its construction business. The company secured another ₱2-billion worth of new contracts in the first quarter of 2025, bringing its order book to ₱41.5 billion as of end-March 2025.
Included in Megawide’s ongoing projects is the contract package (CP)-104 of the Metro Manila subway project, which will facilitate the company’s diversification into railway systems.
Meanwhile, last May, Megawide’s residential subsidiary PH1 World Developers Inc. (PH1) also broke ground for four new Pambansang Pabahay Para sa Pilipino Housing (4PH) locations in Cavite province—two in Dasmariñas City and two in Bacoor City—to help the Marcos Jr. administration achieve its 4PH goal. These projects are expected to deliver 7,000 housing units over the next two to three years in the province.

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