SUBSCRIBERS
Moody's changes FCT outlook to stable, affirms Baa2 rating on PGIM Asia Retail Fund deal
Published Tue, Sep 8, 2020 · 09:50 PM
Singapore
MOODY'S Investors Service has affirmed Frasers Centrepoint Trust's (FCT) Baa2 issuer rating and changed the outlook on the rating to stable from negative.
The rating action comes after FCT proposed to acquire the balance 63.1 per cent stake in PGIM Real Estate Asia Retail Fund (ARF), raise up to S$1.39 billion through an equity offering, and divest Bedok Point for S$108 million to its sponsor Frasers Property.
KEYWORDS IN THIS ARTICLE
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
Macquarie sees biggest profit dip in 15 years on commodities downturn
HSBC appoints ex-Citi banker as new Singapore head of global banking
H2G Green chief to stand trial on Aug 5 amid MOM probe
Dasin Retail Trust’s trustee-manager chairman, directors deny allegations of misconduct
Microsoft adds security chiefs to product groups in wake of hacking woes
Singapore shares climb at Friday’s open; STI up 0.2%