S&P: Frasers Centrepoint Trust debt BBB+

Standard & Poor's said that following an error it corrected, the issue rating on the outstanding senior unsecured notes that FCT MTN Pte Ltd. issued under its S$500 million medium-term note program should have been raised to BBB+ from BBB.

The issue ratings are equalized with the rating on Frasers Centrepoint Trust, S&P said.

FCT MTN Pte is a wholly owned subsidiary of HSBC Institutional Trust Services (Singapore) Ltd., a trustee of FCT.

The corrected ratings include the BBB+ ratings on FCT MTN Pte's S$55 mil. 2.83% medium-term notes series 002 due Feb. 12, 2013, S$25 mil. 3.5% medium-term notes series 003 due Feb. 12, 2015 and S$60 mil. 2.8% medium-term notes series 004 due Jan. 24, 2014.

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