Ratings agency Standard & Poor's has reaffirmed a BBB- rating for Singapore-listed industrial REIT Cambridge Industrial Trust (CIT) (SGX:J91U). This is according to an announcement filed by the REIT today.

Cambridge Industrial Trust has a portfolio of 51 industrial properties across Singapore.

A score of BBB- on the Standard & Poor's scale is described as being of the "lowest investment grade by market participants" on the rating agency's website. Investments in this band are considered able to meet financial commitments but are more subjected to adverse economic conditions.

CIT currently holds a portfolio of 51 industrial properties across Singapore with a combined value of S$1.2 billion as of 31 March 2013.

Units of CIT are currently trading at about 6 percent lower from its previous day's close at S$0.79.

By Ridzwan Rahmat

Ridzwan has been analysing REITs and business trusts since 2008, and personally manages a portfolio comprising mainly of SGX-listed REITs. He founded REITsWeek in 2013.