Fitch cuts CDL H-Reit outlook; sees Ascott Reit as less vulnerable
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Fiona Lam
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.
