Moody's downgrades CMT to A3, and upgrades CCT to Baa1
The re-rating follows unitholders' vote in favour of a merger of the two trusts
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Singapore
MOODY'S Investors Service has downgraded its ratings on CapitaLand Mall Trust (CMT) and upgraded those of CapitaLand Commercial Trust (CCT), days after unitholders voted in favour of a merger of the two trusts.
The credit ratings agency has downgraded the issuer and senior unsecured ratings of CMT to A3 from A2; its rating of CCT has been raised from Baa2 to Baa1.
Moody's analyst Tan Junling said: "The downgrade reflects our expectation that CMT's credit metrics will weaken and …
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