Moody’s rates Tritax, notes Baa1

Moody's Investors Service said it assigned a first-time Baa1 long-term issuer rating to Tritax Big Box REIT plc and assigned a Baa1 rating to the planned benchmark-sized senior unsecured notes to be issued under the £1.5 billion medium term note program.

The outlook is stable.

The agency said the ratings assume the successful placement of the notes with an expected tenor of between seven and 14 years, and putting in place a new £350 million five-year unsecured revolving credit facility.

"Tritax Big Box REIT's Baa1 rating reflects its leading position in the prime U.K. logistics property market, and favorable property market fundamentals that support stable cash flows from a strong geographically well-diversified portfolio with a long-dated lease profile to good credit quality tenants,” Ramzi Kattan, Moody's vice president, senior analyst and lead analyst, said in a news release.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.