Thursday, December 16, 2010

Suntec REIT Gets ‘Stable’ Outlook Rating from Moody’s

ARA Trust Management (Suntec) Limited, as manager of Suntec

Real Estate Investment Trust, announced that its corporate family

rating was rated “stable” by Moody’s Investors Service.

The corporate family rating was rated Baa2, while its unsecured debt

rating was Baa3.

Moody’s recent rating review was initiated subsequent to the

announcement of the acquisition of a one-third interest in the Marina

Bay Financial Centre Towers 1 and 2 and the Marina Bay Link Mall.

Suntec REIR said the acquisition has been completed with partial

funding by a S$1.105 billion term loan facility, and the remainder is

funded by S$417.9 million of net proceeds derived from the private

placement of 313,000,000 new units in Suntec REIT.

Yeo See Kiat, Chief Executive Officer of ARA Trust Management

(Suntec) Limited, said: “The recently completed acquisition is a

strategic addition to Suntec REIT’s asset portfolio. It is a high-quality

asset with a blue-chip tenant base, and is expected to provide a

stable and sustainable income stream.”

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