Moody's downgrades CMT to A3, and upgrades CCT to Baa1
The re-rating follows unitholders' vote in favour of a merger of the two trusts
Singapore
MOODY'S Investors Service has downgraded its ratings on CapitaLand Mall Trust (CMT) and upgraded those of CapitaLand Commercial Trust (CCT), days after unitholders voted in favour of a merger of the two trusts.
The credit ratings agency has downgraded the issuer and senior unsecured ratings of CMT to A3 from A2; its rating of CCT has been raised from Baa2 to Baa1.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
Huawei’s new phone sports latest version of made-in-China chip
Meta’s earnings flop sparks US$400 billion sell-off in tech stocks
Singapore shares open lower on Friday; STI down 0.1%
OUE wins tender to lease, develop new ‘zero-energy’ hotel at Changi Airport’s T2
Roku’s warning on ad-supported streaming competition clouds upbeat earnings
Stocks to watch: CLI, Great Eastern, MIT, Sheng Siong, iFast, OUE, Far East Orchard