Moody's: Asia-Pac Reits' refinancing risk manageable

Singapore

REFINANCING risk among Asia-Pacific Reits is manageable over the next 12-18 months as less than 15 per cent of their debts on average are due for refinancing over the next 12 months, says credit rating agency Moody's.

Based on its analysis of 38 Reits across Australia, Hong Kong, Japan and Singapore, Moody's noted that their credit metrics are healthy, with leverage and interest coverage ratios remaining broadly stable between fiscal 2012 and 2015.

During this period, these rated Reits have reduced their reliance on secured borrowings and kept debt maturities well spread-out. Many also have diverse sources of funding, which reduce their vulnerabil…