|
|
 |
|
Viewing report
|
|
|
|
AMP Capital Shopping Centre Fund Rating Raised To 'A' On Equity Raising, Revised Gearing Target; Outlook Stable Aug 11
Standard & Poors, Aug 2011
Abstract
MELBOURNE (Standard & Poor's) Aug. 4, 2011--Standard & Poor's Ratings Services today said that it had raised its long-term corporate credit rating on AMP Capital Shopping Centre Fund (ASCF), an unlisted Australian-based wholesale property fund, to 'A', from 'A-'. At the same time, we raised our issue-level ratings on ASCF's senior-secured debt obligations to 'A+', from 'A'; this one-notch uplift above the corporate credit rating reflects over-collateralization of pledged assets to secured debt. The rating outlook is stable. 'The upgrade reflects our view of the strength of ASCF's financial profile following the fund's recent equity raising, and our belief that ASCF's financial profile will remain consistent with a higher rating over the medium term despite the fund's likely discretionary spending...
Companies mentioned in this report are: AMP Capital Shopping Centre Fund
Action: Outlook: Stable
Action: Upgraded
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
Research type: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.
|
|
|
|
