Moody’s affirms ESR-REIT

Moody's Investors Service said it affirmed ESR-REIT's Baa3 issuer rating and the Baa3 ratings on the senior unsecured notes drawn down from its note program.

At the same time, Moody's affirmed RBC Investor Services Trust Singapore Ltd.’s and ESR-MTN Pte. Ltd.’s Baa3 ratings on the senior unsecured notes drawn down from their note program.

The outlook is stable.

“The affirmation reflects Moody's expectation that ESR-REIT's credit metrics will remain within the parameters of its Baa3 issuer rating following its proposed asset enhancement initiatives and asset acquisition which will largely be equity funded,” Sweta Patodia, Moody's analyst, said in a news release.

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