Fitch affirms Vesta Investment

Fitch Ratings said it affirmed the $346 million notes issued by Vesta Investment Corp. Ltd. at AAA and assigned a stable outlook.

The affirmation follows a review of the current stage of completion of two condominium projects under construction in Singapore, Fitch said, and is based on the fact that transaction reserves have been fully funded and provide adequate protection to the note holders.

The ratings address the timely payment of interest and ultimate payment of principal by the legal maturity dates of the notes, the agency said.

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