Robinson's Land REIT Gets Top Rating

RL Commercial REIT, Inc. (RCR), the flagship real estate investment trust of Robinsons Land Corporation (RLC), secured the highest issuer credit rating of PRS Aaa (corp.), with a Stable Outlook, from Philippine Rating Services Corp. (PhilRatings).

Photo Insert: Ban Bian Jie condo in China by Robinson's Land

RCR is the Philippines’ largest Real Estate Investment Trust (REIT) to date, in terms of market capitalization at Php64.2Bn, property valuation at Php73.9Bn, asset size of 425,315 square meters in Gross Leasable Area, and REIT initial public offering (IPO) size of Php23.5 billion.

RCR also has the widest geographical coverage, covering nine locations in Luzon, Visayas, and Mindanao, and the longest average land lease tenure of 89 years.

With a PRS Aaa (corp.) rating, the highest issuer credit rating assigned on the PRS scale, RCR is deemed to have a very strong capacity to meet its financial commitments relative to that of other Philippine corporations.

The rating includes a stable outlook for the Company, which means it is expected to remain unchanged in the next 12 months.

The investment-grade Issuer Credit Rating allows RCR to increase its leverage limit from 35% to 70% of the total value of its deposited property, according to the REIT Implementing Rules and Regulations (IRR). excellent track record. It seeks to embody RLC’s principles of good corporate governance to ensure sustained shared success with all its stakeholders.

RCR was listed on the Main Board of the Philippine Stock Exchange on September 14, 2021, at Php6.45/share. The initial public offering drew an overwhelming response from the capital markets, resulting in its full subscription.

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