S&P rates RCS Trust notes A-

S&P said it assigned its A- long-term issue rating to the proposed unsecured notes to be issued by RCS Trust (A-/stable/--).

The S$150 million 3.05% six-year series 003 notes will mature in 2024. They are issued under RCS' US$2 billion euro medium-term note program.

“The rating on RCS reflects the Singapore-based trust's status as a highly strategic investment of its sponsor parents CapitaLand Mall Trust (CMT) and CapitaLand Commercial Trust (CCT: BBB+/stable/--),” S&P said in a news release.

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