GT Capital Holdings, Inc. has received an inaugural “A-” foreign currency long-term issuer rating with a stable outlook from the Japan Credit Rating Agency, Ltd.
The rating was based on the conglomerate’s business portfolio, cash flow, and financial position, according to the credit report.
The Japanese credit rating agency cited the strength of the group’s financial services and automotive businesses, highlighting the market positions of Metropolitan Bank & Trust Co., Toyota Motor Philippines Corp., GT Capital Auto and Mobility Holdings, Inc., and Toyota Financial Services Philippines Corp.
GT Capital Chief Financial Officer and Treasurer George S. Uy-Tioco, Jr. said the rating is reflective of the Group’s resilience, sound fiscal position, and strong balance sheet.
According to the agency, an “A-” issuer credit rating is an investment-grade rating that indicates strong creditworthiness and a high capacity to meet financial obligations.
GT Capital said it is among seven Philippine institutions to have received a credit rating from the agency.
The conglomerate has interests in banking, automotive, property development, insurance, infrastructure, and utilities, with core operating companies including Metrobank, TMP, Federal Land, Inc., AXA Philippines Life and General Insurance Corp., and Metro Pacific Investments Corp.
At the local bourse, GT Capital shares slipped 0.22% to close at P464 apiece.
