STI Education Services Group (STI ESG), a subsidiary of listed STI Education Systems Holdings Inc. (STI Holdings), said its P3-billion bond issue received a high rating of “PRS Aa” from Philippine Rating Services Corp. (PhilRatings). STI Holdings Chair Eusebio H. Tanco said the favorable rating for STI ESG’s bond offer will provide investors a reference on the financial health of the company. STI ESG earlier said proceeds of the bond issue will be used to finance its campus expansion projects and for other general corporate requirements. At present, STI ESG operates 32 company-owned and another 32 franchised STI colleges nationwide. STI ESG is 98.66 percent held by listed parent firm STI Holdings, led by businessman Eusebio Tanco.

Source: Manila Times January 24, 2017 16:21 UTC