S&P Assigns Frasers Logistics & Commercial Trust ‘BBB+’ Rating With Stable Outlook
APril 15, 2021 – S&P Global Ratings announced that they are assigning a BBB+ with a stable outlook to Frasers Logistics & Commercial Trust on the back of expected resilient operating performance and cash flow over the next 24 months.
The stable outlook reflects their view that the REIT will maintain highly predictable cash flows and good asset quality over the next 12-24 months.
“We also expect the REIT to maintain a prudent approach to growth, with acquisitions funded with a mix of debt and equity,” S&P said.
In our view, FLCT’s earnings will remain resilient due to good portfolio diversification across asset classes and geographies. The REIT’s exposure to both L&I and commercial asset classes provides some earnings stability across market cycles,” the credit watcher added.