Moody's rates Wharf A2

Moody's Investors Service said it assigned a first-time A2 issuer rating to Wharf Real Estate Investment Co. Ltd.

The agency also said it assigned a provisional A2 senior unsecured rating to the new $3 billion guaranteed medium-term note program of Wharf REIC Finance (BVI) Ltd., a wholly owned subsidiary of Wharf Real Estate.

The program is unconditionally and irrevocably guaranteed by Wharf Real Estate, Moody's said.

The outlook is stable.

The ratings reflect the company's sizable and good quality assets, as well as the diversity of its asset types located in prime commercial locations in Hong Kong, the agency said.

The ratings also consider the company's strong management ability in tenancy management, which provides good visibility in terms of revenue and profit, Moody's said.

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