General Announcement::Moody's affirms Frasers Commercial Trust's Baa2 ratings and changes outlook to negative

Issuer & Securities

Issuer/ Manager
FRASERS CENTREPOINT ASSET MANAGEMENT (COMMERCIAL) LTD.
Securities
FRASERS COMMERCIAL TRUST - SG2C81967185 - ND8U
Stapled Security
No

Announcement Details

Announcement Title
General Announcement
Date &Time of Broadcast
25-Sep-2017 20:49:20
Status
New
Announcement Sub Title
Moody's affirms Frasers Commercial Trust's Baa2 ratings and changes outlook to negative
Announcement Reference
SG170925OTHRPPZ2
Submitted By (Co./ Ind. Name)
Catherine Yeo
Designation
Company Secretary
Description (Please provide a detailed description of the event in the box below)
Moody's Investors Service (Moody's) has today affirmed Frasers Commercial Trust's (FCOT's) Baa2 issuer rating. Outlook has changed from stable to negative mainly due to Hewlett-Packard Enterprise Singapore Pte Ltd's intention to vacate most of the space it currently leases at Alexandra Technopark as announced on 22 September 2017, and the uncertainty around the plans for space by Hewlett-Packard Singapore Pte Ltd at Alexandra Technopark. Moody's expects that the on-going asset enhancement at Alexandra Technopark geared towards rejuvenating and transforming Alexandra Technopark into a vibrant, engaging and stimulating business campus will improve its ability to attract new tenants to the space and boost rental income for FCOT.

Please see the attached press release by Moody's.

Attachments

Moodys_Press_Release_25Sep17.pdf
Total size =111K