JCR gives BBB+ rating to PGM Holdings' bonds.

(ADPnews) - Sep 10, 2010 - JCR assigned on Friday a BBB+ rating to the upcoming bonds of Japanese golf course operator PGM Holdings KK (TYO:2466).

The company will issue its three-year JPY 8 billion (USD 95.3m/EUR 74.8m) 1.45% bonds No 1 on September 13, 2013 under its shelf registration.

PGM Holdings KK is one of the largest golf course (GC) operators in Japan in terms of the number of GCs under its management.

It has been increasing the number of visitors at its golf courses in the face of adverse macroeconomic conditions thanks to its strengthening new sales channels.

The company has increased its competitive strengths of its GCs against its …