ABS-CBN records high ratings for bond issuance

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MANILA — ABS-CBN Corp. got high ratings for its P6-billion bond issuance, according to the Philippine Rating Services Corp. (Philratings).

Philratings said in a statement that the debt was rated PRS Aaa and indicated minimal credit risk on the part of the issuer.

It cited the company’s continuous observance of good market share and retention of its “popular” talent pool, sustained “ample coverage for interest and principal payments” and profitability and keeping up to date with “new trends in technology and media.”

“Some of its initiatives and innovations include the launching of Digital Terrestrial Television through ABS-CBN TVplus, also known as the Mahiwagang Black Box, and its network sharing agreement with Globe Telecom, Inc.   to offer ABS-CBNmobile,” Philratings said.

It also cited ABS-CBN’s new advertising pricing scheme.

“ABS-CBN plans to use the cost per individual rating point  system. While the company is the first broadcaster in the country to use it, the Philippines is one of the last countries in Southeast Asia to do so,” Philratings said.