Alsons Consolidated Resources, Inc. (ACR) has received an upgraded credit rating of PRS Aa (corp.) with a Stable Outlook from Philippine Rating Services Corp. (PhilRatings), enhancing its capacity to fund new power projects and support more reliable electricity supply in Mindanao and the Visayas.

In a stock exchange filing on Monday, ACR said the upgrade from last year’s PRS Aa– rating applies to its P3-billion commercial paper program, of which P1.156 billion remained outstanding as of 17 November.

“The higher credit rating from PhilRatings reflects confidence in the Group’s purpose, business stability, financial strength, and strategic direction. The trust bestowed upon us amplifies our motivation in providing a more efficient, reliable, and sustainable energy in the regions we serve.

Our expansion in various hydro and solar power projects in Mindanao and the Visayas reinforces our position as a trusted energy partner,” ACR Chief Financial Officer Roberto Joaquin P. Ramos said.

The PRS Aa rating, just below the highest tier, indicates a strong capacity to meet financial obligations, allowing the company to borrow at lower costs and access capital more efficiently.

PhilRatings cited ACR’s strategic partnerships, diversified power and land development portfolio, expansion initiatives, and consistent profitability supported by positive operating cash flows as key factors behind the upgrade.

The Stable Outlook indicates the rating is expected to be maintained over the next 12 months.

For consumers, the stronger credit profile enables ACR to expand and diversify its power portfolio, improving supply reliability and boosting renewable energy capacity in Mindanao and the Visayas.

ACR currently operates six power plants with a combined capacity of about 515 megawatts (MW) and is developing additional hydro, conventional, and solar projects. These include the planned conversion of its 55-MW Sarangani diesel plant to solar under the Department of Energy’s Green Energy Auction Program 4.

The company has also completed a backup power project in Bohol to help strengthen grid reliability in the Visayas.

For the first nine months of the year, ACR reported revenues of P8.90 billion and net income of P1.82 billion, with operating cash flows amounting to P1.80 billion.