Moody's changes Vicinity view to stable

Moody's Investors Service said it affirmed Vicinity Centres' A2 issuer rating.

At the same time, Moody's said it affirmed the A2 backed senior unsecured ratings and (P)A2 backed senior unsecured medium-term note ratings for Vicinity Centres RE Ltd. The outlook has been changed to stable from negative.

“The change in outlook to stable reflects our expectation that Vicinity's credit profile will remain within the parameters set for the A2 rating over the next 12-18 months. This is driven by the initiatives carried out by Vicinity to strengthen its balance sheet and liquidity position to address uncertainties stemming from the coronavirus pandemic and our expectation for operating conditions to stabilize over the coming months,” said Saranga Ranasinghe, a Moody's vice president and senior analyst, in a news release.

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