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Bulletin: Investa Commercial Property Fund Ratings Unaffected By Asset Acquisitions Dec 11 Product Image

Bulletin: Investa Commercial Property Fund Ratings Unaffected By Asset Acquisitions Dec 11

  • Published: December 2011
  • Standard & Poors

Abstract
MELBOURNE (Standard & Poor's) Dec. 14, 2011--Standard & Poor's Ratings Services said today that its 'A-' issuer credit rating and 'A' issue rating on Australian unlisted entity Investa Commercial Property Fund (ICPF) are unaffected by ICPF's announcement on Dec. 13, 2011 that it would acquire from Investa Property Group a 50% (A$255.0 million) interest in 120 Collins Street, a landmark premium-grade Melbourne CBD office building and a 5.1% (A$29 million) interest in 400 George Street, New South Wales, taking its interest in that asset to 25%. The rating outlook remains stable. Although the ultimate purchase price is based on a two-stage valuation process that will not be concluded until 2012, ICPF's gain/loss is capped at 3.75% (A$9.6 million) of the...

Companies mentioned in this report are: Investa Commercial Property Fund
Action: Bulletin

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Investa Commercial Property Fund

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