Keppel Reit rating not affected by MBFC buy: S&P

CREDIT-RATING agency Standard & Poor's (S&P) said on Tuesday that Keppel Reit's BBB rating is not affected by its proposed acquisition of a one-third stake in Marina Bay Financial Centre (MBFC) Tower 3.

The net purchase price is about S$1.2 billion.

"We expect the acquisition to enhance Keppel Reit's portfolio while keeping its financial strength intact," S&P said, in a largely positive note on the purchase.