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24-09-2014, 06:48 AM
http://www.businesstimes.com.sg/premium/...p-20140924
PUBLISHED SEPTEMBER 24, 2014
Keppel Reit rating not affected by MBFC buy: S&P
BYCAI HAOXIANG
haoxiang@sph.com.sg @HaoxiangCaiBT
CREDIT-RATING agency Standard & Poor's (S&P) said on Tuesday that Keppel Reit's BBB rating is not affected by its proposed acquisition of a one-third stake in Marina Bay Financial Centre (MBFC) Tower 3.
The net purchase price is about S$1.2 billion.
"We expect the acquisition to enhance Keppel Reit's portfolio while keeping its financial strength intact," S&P said, in a largely positive note on the purchase.
It added that the real estate investment trust's portfolio quality in the central business district (CBD) will improve. Keppel Reit sold 16-year-old Prudential Tower in May, leading to talk that it would use the cash proceeds to buy Keppel Land's stake in the two-year-old MBFC Tower 3.
PUBLISHED SEPTEMBER 24, 2014
Keppel Reit rating not affected by MBFC buy: S&P
BYCAI HAOXIANG
haoxiang@sph.com.sg @HaoxiangCaiBT
CREDIT-RATING agency Standard & Poor's (S&P) said on Tuesday that Keppel Reit's BBB rating is not affected by its proposed acquisition of a one-third stake in Marina Bay Financial Centre (MBFC) Tower 3.
The net purchase price is about S$1.2 billion.
"We expect the acquisition to enhance Keppel Reit's portfolio while keeping its financial strength intact," S&P said, in a largely positive note on the purchase.
It added that the real estate investment trust's portfolio quality in the central business district (CBD) will improve. Keppel Reit sold 16-year-old Prudential Tower in May, leading to talk that it would use the cash proceeds to buy Keppel Land's stake in the two-year-old MBFC Tower 3.