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Mitsubishi Estate credit rating cut by Moody's to A2

Published Wed, Jul 23, 2014 · 10:00 PM
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[TOKYO] Mitsubishi Estate Co's credit rating has been lowered by one notch to A2 by Moody's Investors Service, on concern that Japan's largest developer by market value is less likely to reduce debt after announcing plans to increase investment.

Mitsubishi Estate in May said it would spend as much as 900 billion yen (S$11 billion) through 2016 to develop properties in Japan including in Tokyo's Marunouchi district,…

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