S&P downgrades FCT's ratings on cash flow impact from Covid-19
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Singapore
S&P Global Ratings has lowered Frasers Centrepoint Trust's (FCT) long-term issuer credit rating to BBB from BBB+ as it believes FCT's cash flow will be hit hard by the coronavirus pandemic, it said on Monday.
Correspondingly, S&P also lowered the rating on senior unsecured notes issued by FCT MTN and guaranteed by FCT to BBB from BBB+.
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