Moody's places Lippo Retail Trust's rating for downgrade

Singapore

MOODY'S Investors Service has placed the "Baa3" rating of Lippo Malls Indonesia Retail Trust (LMIRT) on review for downgrade, citing the deteriorating credit quality of key entities within the Lippo group, which contribute around one-third of the trust's revenue.

If a downgrade does occur, the rating could drop to "Ba1" or below, which is junk bond territory. The credit rating agency has up to 90 days to finalise the rating.