Philippines
GT Capital Secures 'A-' Rating from Japan Credit Rating Agency
The rating is expected to enhance GT Capital's access to Japanese financial markets and diversify its funding sources.
GT Capital Holdings Inc., a conglomerate led by the Ty family, has achieved a significant milestone by securing its inaugural foreign currency long-term issuer credit rating of 'A-' from the Japan Credit Rating Agency (JCR). This rating, which comes with a stable outlook, is expected to broaden the company's access to Japanese capital markets and diversify its funding sources.
According to JCR, the rating reflects GT Capital's robust business foundation, stable cash flow from a well-balanced portfolio, and solid financial base. The agency particularly highlighted the strengths of the group's subsidiaries, including Metropolitan Bank and Trust Co. (Metrobank), Toyota Motor Philippines Corp. (TMP), and Toyota Financial Services Philippines Corp. (TFSPH). Chief Financial Officer and Treasurer George Uy-Tioco Jr. welcomed the JCR rating, stating it reflected the group's resilience, sound fiscal position, and strong balance sheet.
Uy-Tioco emphasized that the rating would enhance the group's relationships with leading Japanese companies such as Toyota Motor Corporation and Mitsui & Co., further solidifying its presence in the Japanese financial markets.
GT Capital is one of only seven Philippine institutions to receive a credit rating from JCR, a recognition that underscores its position in the market. The conglomerate's portfolio spans various sectors, including banking, automotive, property development, insurance, and infrastructure, with core operating companies such as Metrobank, TMP, and Federal Land, Inc.
On the Philippine Stock Exchange, GT Capital shares experienced a slight decline, closing at PHP 464.00 (approximately USD 8.16), down by 0.22%. This downturn occurred amid a broader market trend, as the benchmark Philippine Stock Exchange index also saw a minor decrease of 0.16%.