Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers M > Headlines for MacarthurCook Industrial REIT > News item |
Moody's cuts Macarthurcook
Moody's Investors Service said it downgraded Macarthurcook Industrial REIT's corporate family rating to B1 from Ba2. The rating continues to be on review for possible downgrade.
The downgrade reflects the company's heightened liquidity pressure as the refinancing of its S$201 million loan maturing in April 2009 remains unresolved, Moody's said.
The downgrade also considers the additional debt maturities that are due in April and unfunded financing needs of S$91 million, the agency said, adding that this presents an additional funding challenge facing the company under the prevailing weak credit environment.
© 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.