PRSC | Leading Domestic Credit Rating Agency in the Philippines
5th Floor, ALGO Center Building 162 L.P. Leviste St., Salcedo Village Makati City, Metro Manila 1227 Philippines
Brief History
1982
Founded as CIBI Ratings, a department of Credit Information Bureau, Inc. (CIBI)
1985
Started providing credit rating services as part of CIBI
1995
Assigned, for the first time, its highest short-term credit rating of PRS 1 to Coca-Cola Bottlers Philippines, Inc.’s
Php 500-million short-term commercial papers (STCPs) and to Ayala Land, Inc.’s Php 1.0-billion STCPs
1996
Assigned, for the first time, its highest long-term credit rating of PRS Aaa to Coca-Cola Bottlers Philippines, Inc.’s
Php 2.3-billion long-term commercial papers (LTCPs), Ayala Corporation’s Php 1.0-billion LTCPs, and Pilipinas Shell Petroleum Corporation’s Php 2.0-billion LTCPs
1999
Became a separate and independent entity known as Philippine Rating Services Corporation (PhilRatings)
2001
Became a founding member of the Association of Credit Rating
Agencies in Asia (ACRAA)
Rated its first bond issue - Bases Conversion Development Authority’s (BCDA) Php 2.0-billion bond issue
Issued its first corporate credit rating for Berkley International Plans, Inc.
2003
Became the first local credit rating agency to be recognized by the Bangko Sentral ng Pilipinas (BSP) for bank supervisory purposes
Rated its first securitization transaction - the MRT III Funding Corporation Asset-Backed Notes
Completed private credit ratings of Local Government Units (LGUs)
2004
SEC approved PhilRatings' accreditation as a credit rating agency.
Rated its first bank - Bank of Commerce
2006
Rated its first corporate notes issue - Manila North Tollways Corporation’s Php 5.5-billion corporate notes
2009
Rated its largest bond issue to date - San Miguel Brewery, Inc.’s (SMBI) Php 38.8-billion bond issue
2016
Rated its first shelf registration - Ayala Land, Inc.’s 3-year 2016 Debt Securities Program (DSP) of up to Php 50.0 billion
2017
Rated a domestic reinsurer - National Reinsurance Corporation of the Philippines (NRCP)
2018
Began rating bank loans
2019
Rated its first ASEAN Green Bond Issue - Arthaland Corporation’s Php 3.0-billion bond issue
2020
Rated the Philippines’ first Real Estate Investment Trust (REIT) - AREIT, Inc.
2021
Rated its first project finance transaction - Solar Philippines Tarlac Corporation's proposed Project Bonds of up to
Php 4.15 billion
2024
Rated the country's first Sustainability-linked bonds - Ayala Land, Inc.'s Php 6.0-billion bond issue
Rated the Php 15.0 billion Blue Bonds issuance of Maynilad Water Services, Inc.
Joint Seminar with the Capital Markets Development Foundation, Inc. on "Philippine Banks: Tapping the Capital Markets"
2025
Rated its first microfinance institution (private rating)