S&P rates CapitaLand notes A-

S&P said it assigned its A- long-term issue rating to the S$250 million of senior unsecured notes due 2023 issued by CMT MTN Pte. Ltd. CMT MTN is a wholly owned subsidiary of CapitaLand Integrated Commercial Trust.

“We equalize the issue rating on the notes with the issuer credit rating on CICT because we believe CICT’s capital structure does not have material contractual or structural subordination risks,” S&P said in a press release.

The proceeds will be used for refinancing borrowings and for general corporate and working capital purposes.

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