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S&P cuts Viva Industrial Trust's rating to BB

It cited trust's "uncertain risk tolerance and aggressive growth appetite", as well as its leverage which has historically exceeded its long-term target of 35-40%

Published Mon, Jul 27, 2015 · 09:50 PM

Singapore

STANDARD & Poor's last Friday lowered Viva Industrial Trust's corporate credit rating from BB+ to BB, one notch down the speculative grade (or "junk") spectrum.

It cited reasons such as the trust's "uncertain risk tolerance and aggressive growth appetite", as well as its leverage which has historically exceeded its long-term target of 35-40 per cent.

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