Moody's confirms Allco REIT

Moody's Investors Service said it confirmed the Ba2 rating of Allco Commercial REIT. This follows news that Allco has entered into a deal to refinance its S$550 million bank loan with a new maturity of December 2009.

This action completes Moody's review for possible downgrade that began in October.

The outlook is stable, reflecting Moody's view that the completion of the refinancing stabilizes its liquidity position.

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