Moody’s rates Centuria Baa2

Moody's Investors Service said it assigned a Baa2 issuer rating to Centuria Industrial REIT.

The outlook is stable.

The agency said the rating reflects the company’s diversified portfolio of high-quality industrial assets leased to strong counterparties, its stable and predictable cash flows underpinned by a long weighted average lease expiry profile, high occupancy and predictable rental escalations, and its track record of raising equity to fund growth and maintain headroom within its target gearing levels and covenants.

“CIP's credit profile is constrained by the REIT's financial profile which exhibits moderate financial leverage as a result of the fund's current growth phase and low yields of the assets acquired,” Moody’s said in a news release.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.