AIMS APAC REIT property at 20 Gul Way. (Photo: AIMS APAC REIT)AIMS APAC REIT property at 20 Gul Way. (Photo: AIMS APAC REIT)

Ratings agency Standard & Poor’s (S&P) has affirmed its investment grade rating of ‘BBB-’ for Singapore-listed industrial REIT AIMS AMP Capital Industrial Trust (SGX:O5RU).

S&P said it expects the REIT “to maintain its market position in Singapore’s industrial property space and stable leverage and financial strength over the next 12-24 months, following the completion of several redevelopment projects in fiscal 2015”.

“In our view, the REIT’s completion of redevelopment projects for 20 Gul Way and 103 Defu Lane 10 in fiscal 2015 (year ended March 31, 2015) have strengthened its portfolio”, the agency added.

AIMS AMP Capital Industrial REIT has described the ratings and report by S&P as a highlight its proven track record of active fund management and disciplined investment.

“The trust is committed to unlock further value in the existing assets and grow the portfolio through opportunistic acquisitions,” said, Koh Wee Lih, CEO of the REIT’s manager.

S&P categorised the the REIT’s business risk as satisfactory and its financial risk as intermediate.

Units of AIMS AMP Capital Industrial REIT are currently listed on the Singapore Exchange at SGD1.52.

AIMS AMP Capital Industrial REIT property at 20 Gul Way.
AIMS AMP Capital Industrial REIT property at 20 Gul Way.

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.