Moody's turns Tritax view to positive

Moody's Investors Service said it affirmed the Baa1 issuer, backed senior unsecured and (P)Baa1 backed senior unsecured medium-term note ratings of Tritax Big Box REIT plc and changed the outlook to positive from stable.

“The ratings affirmation and change of outlook to positive from stable reflects Moody's expectation that TBBR's growing scale and improvement in asset quality will continue, supported by even stronger sector fundamentals and the U.K.'s largest land portfolio for logistics property development. Moody's expects the company to maintain its strong credit metrics, with a low gross-debt-to-assets ratio of around 30% and a fixed-charge coverage ratio (FCC) above 4x,” the agency said in a press release.

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