Moody's rates Yuexiu REIT notes Baa2

Moody's Investors Service said it assigned a first-time Baa2 issuer rating to Yuexiu Real Estate Investment Trust (Yuexiu REIT).

Moody's also said it assigned a provisional Baa2 rating to the medium-term note program proposed by Yuexiu REIT, along with a Baa2 rating to the first dollar-denominated senior unsecured notes issued under the program.

The outlook is stable.

The ratings reflect the company's good quality of assets in the capital city of the economically strong Guangdong province, Moody's said.

Yuexiu REIT's six commercial properties, including the landmark building Guangzhou IFC, are well-located and maintained, the agency said.

Their competitive position has enabled it to establish a track record of stable revenues and resilience against economic down cycles, Moody's said.

The ratings are constrained by its geographic concentration in Guangzhou, the agency said. Nonetheless, the concentration risk is mitigated by its diversified tenant base and asset type, Moody's added.

© 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.