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S&P rates RCS Trust A-
S&P said it assigned an A- long-term corporate credit rating to RCS Trust, along with an axAA long-term Asean regional scale rating.
The outlook is stable.
The ratings reflect the trust's status as a highly strategic investment of its sponsor parents, CapitaLand Mall Trust and CapitaLand Commercial Trust, S&P said.
RCS also is expected to benefit from an exceptionally high likelihood of support from its parents, the agency said.
The company’s stand-alone credit profile is BBB.
The favorable location and diversified cash flows of the trust's single asset offsets the single-asset risk, S&P said.
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