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Fitch Ratings cuts LMIRT outlook to negative due to coronavirus impact

Ng Ren Jye

Published Tue, Apr 7, 2020 · 09:50 PM

Singapore

FITCH Ratings has lowered its outlook on Lippo Malls Indonesia Retail Trust's (LMIRT) long-term foreign-currency issuer default rating to negative from stable due to the coronavirus outbreak.

The negative outlook is based on an expectation that the pandemic will impact operating earnings, with average occupancy rate dropping to around 50 per cent in 2020, Fitch Ratings said on Monday.

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