Moody’s changes Frasers view

Moody's Investors Service said it confirmed Frasers Commercial Trust's Baa2 issuer rating.

At the same time, Moody's confirmed FCOT Treasury Pte. Ltd.'s Baa2 backed senior unsecured debt ratings.

Moody's also changed the outlook on all ratings to negative from rating under review.

This concludes the review initiated on FCOT's ratings on Dec. 6 following its announcement of a proposed merger with Frasers Logistics and Industrial Trust.

“The confirmation of FCOT's ratings considers its receipt of consent from bondholders to proceed with the proposed merger with FLT,” Sweta Patodia, Moody's analyst, said in a news release.

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