Fitch rates Scentre A

Fitch Ratings said it assigned a long-term foreign-currency issuer default rating of A to Scentre Group Ltd.

Fitch also said it assigned senior unsecured ratings of A to Scentre Management Ltd., RE1 Ltd. and RE2 Ltd.

The outlook is stable.

The senior unsecured ratings are at the same level as the company's issuer default rating as the debt is guaranteed jointly and severally by Scentre, the agency said.

The rating is driven by the strength of the company's business profile and its uniquely positioned portfolio in a global context, Fitch said.

Scentre's portfolio of premier Westfield shopping centers across Australia is accessible to about 65% of the country's population, generating more than 535 million customer visitations per year, the agency said.

The quality of the portfolio is reflected in consistently high occupancy levels of higher than 99% and high visibility over the company's rental stream, Fitch said.

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