Citicore Energy REIT Corp. (CREIT or “the Company”) has once again affirmed its position as one of the country’s most stable and trusted issuers after maintaining its PRS Aa+ (corp.) Issuer Credit Rating with a Stable Outlook from Philippine Rating Services Corporation (PhilRatings). Similarly, CREIT’s ASEAN Green Bonds also retained its PRS Aa+ Issue Credit Rating with a Stable Outlook.
Since its debut in 2022, CREIT has consistently received these ratings year after year, demonstrating the Company’s solid fundamentals, strong governance, and consistent reliable performance in the fast-growing sustainable infrastructure sector. PhilRatings highlighted several key drivers in its ratings, including:
1. A unique, 100% occupied portfolio of green, income-generating assets aligned with the country’s accelerating renewable energy demand;
2. Reputable and experienced shareholders;
3. Satisfactory profitability;
4. A healthy liquidity position and manageable leverage levels.
“Maintaining the PRS Aa+ rating both for CREIT as an issuer and for our maiden ASEAN Green Bond signals continued confidence in our business model, our stability, and our long term value creation as the Philippines’ foremost renewable energy REIT,” said CREIT President and CEO Oliver Tan.
PhilRatings defines the Issuer Credit Rating as an indicator of a company’s overall creditworthiness and its ability to meet financial obligations within a one-year horizon. The PRS Aa (corp.) issuer rating denotes that the Company has a strong capacity to meet its financial commitments relative to that of other Philippine corporates. Meanwhile, the PRS Aa issue rating signifies that the obligation is of high quality and very low credit risk, with the obligor demonstrating a very strong capacity to fulfill financial commitments. A Stable Outlook reflects the agency’s expectation that the rating will remain unchanged over the next 12 months.
CREIT’s oversubscribed Php 4.5-billion ASEAN Green Bond, issued in February 2023 funded the acquisition of value-accretive renewable energy properties that expanded its green land portfolio to 7.1 million square meters – establishing CREIT as the country’s largest renewable energy landlord.
In 2024 and 2025, the Institute of Corporate Directors (ICD) also awarded CREIT with a Golden Arrow Award for both years, reinforcing the company’s sustained excellence in corporate governance among publicly listed companies in the Philippines based on global benchmarks set by the ASEAN Corporate Governance Scorecard (ACGS).
“Our platform is built not only on securing resilient investments but is anchored on trust and confidence of our investors. As we continue to grow and expand our green asset portfolio, we remain fully committed to empower your sustainable investments and ensuring that the expectations and obligations to our shareholders are met,” Tan said.
