Fitch gives CapitaLand Ascott notes BBB

Fitch Ratings said it assigned CapitaLand Ascott Real Estate Investment Trust's planned guaranteed unsecured medium-term notes a BBB long-term rating. The notes will be issued by the trust's wholly owned subsidiary, Ascott REIT MTN Pte. Ltd., and will be guaranteed by DBS Trustee Ltd. in its capacity as Ascott REIT's trustee.

The rating is aligned with those of Ascott’s outstanding senior unsecured notes.

CapitaLand Ascott will use the proceeds to repay maturing near-term debt.

The outlook is stable.

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