Moody’s Downgrades Lippo Malls Indonesia Retail Trust’s Rating To Caa1 From B3
Feb 14, 2023 – Moody’s had downgraded LMIRT’s rating to Caa1, the manager of the REIT said in a statement.
“As previously announced on 3 January 2023 and on 1 February 2023, the Manager continues to explore options and measures to maintain a sustainable capital structure and reduce the aggregate leverage of LMIR Trust,” it said. “In light of such measures and the downgrade in credit rating by Moody’s, the distributions to Unitholders and holders of perpetual securities may be negatively affected, in accordance with the terms of the applicable documentation.” Read more here.
