S&P lifts Starhill Global notes

Standard & Poor's said it raised its long-term corporate credit rating on Starhill Global Real Estate Investment Trust to BBB+ from BBB.

The outlook is stable.

At the same time, S&P raised its long-term Asean regional scale rating on the Starhill to axA+ from axA.

The agency also raised its ratings on Starhill's medium-term notes program and its S$124 million 2015 notes drawdown to BBB+ from BBB and its Asean regional scale ratings on the program and the drawdown to axA+ from axA.

"We raised the rating on SGREIT because we expect the improvement in the REIT's capital structure and cash flow adequacy over the next two years to be greater than we had earlier anticipated," S&P credit analyst Xavier Jean said in a news release.

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