Moody's assigns Baa3 to First Pacific

Moody's Investors Service said it assigned a Baa3 issuer rating to First Pacific Co. Ltd. (First Pac).

The outlook is stable.

“First Pac's Baa3 issuer rating reflects the company’s high quality portfolio with most of the group's businesses having leading positions in their respective markets, manageable debt levels and a track record of stable earnings,” said Annalisa Di Chiara, a Moody's senior vice president, in a news release.

“First Pac has a long and successful operating history with its main businesses which operate in industries with countercyclical characteristics including telecommunications, consumer food products and infrastructure. It has held its main businesses for over 15 years.”

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