Moody’s assigns CapitaLand notes A3

Moody’s Investors Service said it assigned an A3 senior unsecured rating to the HK$426 million of 2.5% notes due 2030 issued by CMT MTN Pte. Ltd., a wholly owned subsidiary of CapitaLand Integrated Commercial Trust, under its A-3 rated multicurrency medium-term note program. The notes are guaranteed by HSBC Institutional Trust Services (Singapore) Ltd. in its capacity as trustee of CICT.

The proceeds will be used to refinance CICT borrowings and its subsidiaries and for general corporate and working capital purposes.

The outlook is negative.

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