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Moody's rates Parkway Life debt Baa2
Moody's Investors Service said it assigned a Baa2 issuer rating to Parkway Life REIT.
The agency also assigned a provisional Baa2 senior unsecured rating to the S$500 million multicurrency medium-term note program of Parkway Life MTN Pte. Ltd., a wholly owned subsidiary of Parkway Life REIT.
The outlook is stable.
"PLife REIT's Baa2 issuer rating is supported by its diversified portfolio of 47 healthcare properties. More importantly, the group enjoys high revenue visibility, as most of its properties are under long-term master lease agreements, with lease structures that protect against downside risks," Moody's analyst Jacintha Poh said in a news release.
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