Moody's assigns A3 to Ascendas REIT notes

Moody's Investors Service said it assigned an A3 senior unsecured rating to the proposed S$100 million of notes issued by Ascendas Real Estate Investment Trust, under its euro medium-term securities program, which is rated (P)A3 by Moody's.

The notes have a fixed coupon rate of 2.65% per annum and mature on Aug. 26, 2030.

Ascendas REIT will use the proceeds to refinance borrowings and for general corporate and working capital purposes.

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