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Moody's gives Baa1 to Mapletree Pan Asia
Moody's Investors Service said it assigned a Baa1 foreign-currency issuer rating to Mapletree Pan Asia Commercial Trust (Mpact).
“Mpact's Baa1 issuer rating reflects the company's strong operating performance through the years from a portfolio of good-quality assets in Singapore and North Asia; and track record of prudent financial management as demonstrated by its funding of acquisitions with a balanced mix of debt and equity.
“At the same time, Mpact's credit quality is supported by its financially strong sponsor, Mapletree Investments Pte Ltd., because the trust can leverage its sponsor's operational track record, expertise and strong network of relationship banks,” the agency said in a press release.
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