Frasers Commercial Trust Outlook Revised To Positive On Possible Lower Leverage; 'BB' Rating Affirmed May 12
- Language: English
- Published: May 2012
Singapore-based FCOT's proposed sale of a commercial property could improve its financial strength if it uses the proceeds to repay its debt. We are revising the outlook on FCOT to positive from stable. At the same time, we are affirming our 'BB' long-term corporate credit rating on the trust. On May 9, 2012, Standard & Poor's Ratings Services revised the outlook on Singapore-based Frasers Commercial Trust (FCOT) to positive from stable. At the same time, we affirmed the 'BB' long-term corporate credit rating on the trust. The positive outlook reflects our view that FCOT's financial risk profile could improve to "intermediate" from the current "significant" in the next 12 to 18 months. We expect the trust to use the proceeds...
Companies mentioned in this report are: Frasers Commercial Trust
Action: Outlook: Positive
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