50 companies merit Triple A rating

For two years until end of 2008, nearly P130 billion worth of bonds was issued by fewer than 50 companies. The amount looks impressive but according to Cesar Crisol, managing partner of Philippine Dealing Exchange, it is nowhere close to the size of bonds issued in the trillions (of pesos) by neighboring countries. The size of the Philippine bond market is a suggestion that it is still far from being fully developed.But there are signs that there is a slowly growing market for bonds, Crisol says, even as he mentions a host of problems.

Vicente “Teng” Castillo, president of PDEx, chimed in and said the bond market is growing slowly.

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