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’s) has reaffirmed an investment grade rating of ‘BBB-’ on Singapore-listed AIMS AMP Capital Industrial REIT, with a stable outlook.

The rating reflects S&P’s confidence in steady cash flows, stable occupancy rates, and a well- staggered lease expiry profile, said AIMS AMP Capital Industrial REIT in an announcement on 12 April.

The REIT also pointed to its strategy of continuous improvement through asset enhancement initiatives as a factor that has contributed to the rating.

“It is pleasing to note that S&P recognises our effort and strategy of focusing on active asset management, and unlocking organic value within the portfolio through asset enhancement initiatives and redevelopments”, said Koh Wee Lih, CEO of the REIT’s manager.

“In addition, coupled with prudent capital and leverage management, [AIMS AMP Capital Industrial REIT] will continue to strive to create long-term value and provide stable and sustainable returns for our valued stakeholders even amidst soft market conditions”, he added.

AIMS AMP Capital Industrial REIT finished the trading day about 0.7% lower from the previous close to end at SGD1.39.

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.