Fitch cuts CDL H-Reit outlook; sees Ascott Reit as less vulnerable
Add BT as a preferred source
Fiona Lam
DeeperDive is a beta AI feature. Refer to full articles for the facts.
Singapore
FITCH Ratings has lowered its outlook on CDL Hospitality Real Estate Investment Trust (CDL H-Reit) to negative from stable, even as it affirmed the trust's long-term issuer default rating at BBB-.
The rating agency said the Singapore-based real estate investment trust (Reit) has a weaker business profile than other Singapore Reits, in particular hospitality peer Ascott Reit, which Fitch described as being less vulnerable to disruptions arising from the Covid-19 pandemic.
Decoding Asia newsletter: your guide to navigating Asia in a new global order. Sign up here to get Decoding Asia newsletter. Delivered to your inbox. Free.
Copyright SPH Media. All rights reserved.
TRENDING NOW
Ministry of Home Affairs Permanent Secretary Pang Kin Keong to retire
Shelving S$5 billion office redevelopment plan proved ‘wise’ as geopolitical risks mount: OCBC chairman
Richard Eu on how core values, customers keep Singapore’s TCM chain Eu Yan Sang relevant
China pips the US if Asean is forced to choose, but analysts warn against reading it like a sports result
