Ayala’s A-rating reaffirmed by Japan Credit Rating Agency

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MANILA, Philippines — The Japan Credit Rating Agency Ltd. (JCR) has reaffirmed Ayala Corp.’s A- foreign currency long-term issuer rating with a stable outlook, citing the strength of the conglomerate’s diversified portfolio, resilient earnings base and prudent financial management.

JCR cited Ayala’s established position as one of the Philippines’ largest and most diversified business groups.

According to the rating agency, Ayala’s creditworthiness is supported by the strong business foundation and contributions from its core businesses in banking, real estate, telecommunications and renewable energy.

It also highlighted the stability of Ayala’s cash flow generation, the strength of its growth potential and its favorable financial position.

“JCR’s continued confidence in Ayala, reflected in its A- rating, underscores the strength of our portfolio, and validates our sharpened focus on disciplined capital allocation, prudent risk management, and balance sheet resilience,” Ayala chief finance officer and chief risk officer Juan Carlos Syquia said.

Ayala acknowledged the continued support of Mizuho Bank Ltd. as adviser in the JCR rating process.

“The reaffirmed A- rating supports Ayala’s diversified financing opportunities to tap Samurai hedged loans at attractive terms during current market uncertainties,” Ayala executive director and treasurer Estelito Biacora said.

Ayala said it remains focused on maintaining financial flexibility, a strong liquidity position and disciplined balance sheet management while pursuing growth opportunities across its portfolio.

Ayala, the country’s oldest conglomerate, has strategic investments across banking, real estate, telecommunications, renewable energy, health care, mobility, logistics, fintech, industrial technologies, education and other sectors.

It finished the first quarter of 2026 with flat earnings at P11.2 billion as higher profit from its banking and telco units offset softer results from its property business.