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Fitch rates Mapletree Industrial Trust's new notes BBB+

Published Tue, Mar 1, 2016 · 09:50 PM
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Singapore

FITCH Ratings on Tuesday gave Mapletree Industrial Trust's (MIT) new S$60 million 3.79 per cent fixed-rate unsecured and unsubordinated notes due in March 2026 a rating of BBB+.

The agency also affirmed MIT's BBB+ long-term ratings on the outstanding S$245 million unsecured unsubordinated medium-term notes.

The new and the outstanding notes are guaranteed by DBS Trustee, and are part of MIT's S$1 billion multi-currency medium-term note programme.

Fitch expects MIT to use the proceeds to refinance part of its debt that falls du…

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