S&P: Goodman Hong Kong BBB+

Standard & Poor's said it assigned a BBB+ long-term corporate credit rating and cnA+ long-term Greater China regional scale rating to Goodman Hong Kong Logistics Fund.

The outlook is stable.

The rating reflects the fund's good asset quality, strong market position and competitive advantage in Hong Kong's industrial property sector, S&P said.

The fund's experienced management team has helped to secure high occupancy rates, good tenant retention and solid rental yields, the agency said.

These strengths are tempered by Goodman Hong Kong's moderate scale, limited geographic and asset diversification, S&P said, and shorter lease-maturity profile than international peers.

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