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Australian Prime Property Fund Retail Rating Raised To 'A+' On Expectations For Conservative Capital-Management Strategy 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 and debt issue ratings on Australian Prime Property Fund Retail (APPF Retail), an unlisted Australian-based wholesale property fund, to 'A+', from 'A'. At the same, the 'A-1' short-term rating on APPF Retail was affirmed. The rating outlook is stable. 'The upgrade reflects our expectation that APPF Retail will maintain a financial profile and credit measures commensurate with a higher rating, despite its significant development pipeline,' Standard & Poor's credit analyst Jennifer Wee said. 'The upgrade considers our view of APPF Retail's very conservative financial policies, which emanate from the fund's strategy to be primarily funded by equity, and which...
Companies mentioned in this report are: Australian Prime Property Fund Retail
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.
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