Moody's downgrades outlook on MNACT over damaged HK mall

Singapore

CREDIT rating agency Moody's Investors Service has changed its outlook on Mapletree North Asia Commercial Trust (MNACT) to negative from stable.

This reflects the uncertainty over the earnings and operating performance of MNACT's largest asset, the Festival Walk mall in Hong Kong, said Jacintha Poh, a Moody's vice-president and senior credit officer.

The mall was closed following extensi…