The Philippine Rating Services Corp. (PhilRatings) maintained its issue credit rating of PRS Aaa, with a stable outlook for D&L Industries Inc.’s (D&L) outstanding fixed-rate bonds amounting to P5 billion.
Obligations rated PRS Aaa are of the highest quality with minimal credit risk and the company’s capacity to meet its financial commitment on the obligation is extremely strong.
PRS Aaa is the highest rating assigned by PhilRatings. A stable outlook is assigned when a rating is likely to be maintained or to remain unchanged in the next 12 months.
The rating and outlook were assigned given D&L’s strong market position in the industries that it is engaged in; diversification of products offered and markets served; innovation-driven specialty products that protect the company from keen competition and ensure continued demand from customers; and relatively stable margins amid higher cost and expenses.
PhilRatings said it would continuously monitor developments relating to D&L and may change the rating and outlook at any time, depending on the circumstances.
D&L pioneered and established its market leadership in various industries through product customization and specialization since its incorporation in 1971.
The company has four principal business segments including food ingredients, oleochemicals and other specialty chemicals, specialty plastics and consumer products original design manufacturer.