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TRIS Rating Affirms Guaranteed Debt Ratings on "FPHT" at "AA-" and Revises


TRIS Rating affirms the ratings on the outstanding guaranteed debentures of Frasers Property Holdings (Thailand) Co., Ltd. (FPHT or Issuer) at ?AA-?. At the same time, we assign a ?negative? outlook to the ratings. The debentures are issued under FPHT?s THB25 billion debenture program and fully guaranteed by Frasers Property Ltd. (FPL or Guarantor). FPHT is a wholly-owned subsidiary of FPL. The issue ratings reflect the creditworthiness of the guarantor (rated ?AA-? with a ?negative? outlook by TRIS Rating).
The ?negative? outlook reflects our view that FPL?s leverage is likely to stay elevated, exceeding the threshold of adjusted debt to earnings before interest, taxes, depreciation and amortization (EBITDA) ratio of below 12 times for the assigned ratings, at least over the next 12-18 months. We expect the company?s earnings to continue to be pressured by the lingering adverse impacts of the Coronavirus Disease 2019 (COVID-19) pandemic and weak macroeconomic backdrop, parti ....

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KL's Lot 10 Property owner announces first perpetual bond issuance


KUALA LUMPUR (Dec 10): YTL Corp Bhd-controlled Starhill Global Real Estate Investment Trust (Starhill Global REIT), the assets of which include the Lot 10 Property and Starhill Gallery here, has announced its maiden issuance of perpetual securities or bonds worth S$100 million (about RM304 million) to enhance the financial flexibility of the property trust and diversify its funding sources.
In a statement to the Singapore bourse yesterday, YTL Starhill Global REIT Management Ltd, the manager of Starhill Global REIT, said the issuer had priced the S$100 million Series 002 perpetual securities with a coupon payment or annual interest payment of 3.85%.
The Series 002 perpetual securities will have no fixed final redemption date and confer a right to receive distribution payments.  ....

Kuala Lumpur , Singapore Exchange Securities Trading Ltd , Chinese Banking Corp Ltd , Management Holdings Pte Ltd , Pte Ltd On Jan , Management Ltd , Starhill Global , Starhill Gallery , Futures Act , Holdings Pte Ltd , Orchard Road , Bursa Malaysia , குவாலா லம்பூர் , சிங்கப்பூர் பரிமாற்றம் பத்திரங்கள் வர்த்தக லிமிடெட் , சீன வங்கி கார்ப் லிமிடெட் , மேலாண்மை ஹோல்டிங்ஸ் ட் லிமிடெட் , ட் லிமிடெட் ஆன் ஜான் , மேலாண்மை லிமிடெட் , எதிர்காலங்கள் நாடகம் , ஹோல்டிங்ஸ் ட் லிமிடெட் , ஆர்சர்ட் சாலை ,