Fitch: Ticon on positive watch

Fitch Ratings said it placed Ticon Freehold and Leasehold Real Estate Investment Trust's A-(tha) national long-term rating and national senior unsecured rating on Rating Watch positive.

This follows news that Ticon Industrial Connection PCL will merge its group-sponsored property funds – Ticon Property Fund, TPARK Logistics Property Fund and Ticon Industrial Growth Leasehold Property Fund – under Ticon REIT, Fitch said.

The positive watch reflects an expectation that the merger will transformatively increase the company's scale by more than four times and lead to greater tenant diversification, the agency said.

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