Philippine Rating Services Corp. (PhilRatings) has assigned its highest Issue Credit Rating of PRS Aaa, with a Stable Outlook, to DoubleDragon Corp.’s bond issuance worth up to ₱10.9 billion.

The planned issuance is for ₱3.5 billion, with an Oversubscription Option of up to ₱7.4 billion. This represents the third and final tranche of the Company’s three-year ₱30 billion Retail Bonds program.

DoubleDragon is offering the ₱10.9 billion worth of peso retail bonds at a fixed rate of 7.7 percent in September 2025 with tenors of 3.5 years and 5.5 years.

“This Retail Bond Tranche was decided to be issued earlier to capitalize on the September 2025 issuance window during which the DD Double-Seven Peso Retail Bond will be the only bond offering in the market,” the company said.

In line with efforts to support liquidity, the Company issued the first and second tranches of its ₱30.0 billion shelf registration bond program in November 2024 and February 2025, respectively.

PhilRatings said it has also maintained the Issue Credit Rating of PRS Aaa, with a Stable Outlook, for DoubleDragon’s outstanding bonds of ₱34.4 billion.

Obligations rated PRS Aaa are of the highest quality with minimal credit risk. The obligor’s capacity to meet its financial commitment on the obligation is extremely strong. A Stable Outlook means the assigned rating is likely to be maintained in the next 12 months.

PhilRatings said the assigned ratings and the corresponding Outlook considered DoubleDragon’s clearly-defined and well-executed growth strategy, its experienced management, and its ability to form solid alliances with industry-recognized partners.

It also factored in the firm’s conservative financial position, considering the capital-intensive nature of the Company’s businesses and expectations of improved operating cashflow, backed by increasing rental income.

As of August 2025, DoubleDragon holds an investment property portfolio of over 1.5 million square meters (sqm), which includes office buildings in Metro Manila, provincial community malls, hotels, and warehouse complexes nationwide.

It aims to increase its property portfolio to 2.4 million sqm of gross floor area (GFA) by 2030, spread across its four core business segments: 30 percent in retail, 15 percent in office, 20 percent in hospitality, and 35 percent in industrial leasing.

Growing the hospitality and industrial leasing segments remains a key focus to achieve these targets. The Company’s hospitality business continues to expand through its Hotel101, Jinjiang Inn, and Ascott brands both locally and abroad.