S&P lifts AEON Mall to stable

Standard & Poor’s said it revised the outlook on AEON Mall Co. Ltd. to stable from negative.

The agency also said it affirmed the company’s BBB+ long-term corporate credit rating.

The upward revision follows the upward revision of the outlook on its parent, AEON Co. Ltd., to stable from negative.

AEON Mall has established a strong position in shopping center development and management with its excellent ability to develop and manage shopping malls and with AEON group’s high brand recognition, S&P said.

The company holds and manages a high-quality property portfolio that generates stable rental income, the agency added.

Rating constraints include its moderately high dependence on the AEON group, arising from a certain degree of concentration on the group for its tenants, S&P said, and implementation risk in developing shopping malls overseas.

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