Fitch rates Global Logistics notes BBB+

Fitch Ratings said it assigned a BBB+ rating to Global Logistic Properties Ltd.'s ¥15 billion senior notes due 2027 issued under its $2 billion euro medium-term note program.

The rating of the bonds is at the same level as the company's long-term issuer default rating of BBB+.

The outlook is stable.

The ratings reflect the company's continued robust operating performance for the financial year ended March 2012, Fitch said.

Contribution from its Chinese operations has been growing steadily in the last three to four years and its share is likely to increase further, reflecting ongoing expansion, the agency said.

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