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Temasek-linked Astrea PE bonds get Fitch upgrades, affirmations

Ratings agency cites diversified portfolios, over-collateralisation, ability to pass loan-to-value tests, among others

Vivienne Tay

Published Tue, May 21, 2019 · 09:50 PM

Singapore

FITCH Ratings has upgraded and affirmed its ratings assigned to a series of private-equity (PE) bonds offered by Astrea III and Astrea IV, both Temasek-linked PE vehicles.

Astrea III's US$170 million Class A-2 notes are now rated "A+(sf)" from a previous "A(sf)" grade, while its US$100 million Class B notes are rated "BBB+(sf)", from a previous "BBB(sf)" grade.

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