Despite prevailing headwinds in the sector, Moody's Investors Service has affirmed the A2 issuer and senior unsecured ratings of Singapore-listed retail REIT, CapitaLand Mall Trust (CMT).

A2 ratings on the REIT’s senior multicurrency medium-term note program, and senior unsecured retail bond issuance program, have also been affirmed by Moody’s.

"The rating affirmations reflect CMT's leading position as Singapore's largest retail real estate investment trust, and its portfolio of quality suburban and downtown core shopping malls located across Singapore," said Saranga Ranasinghe, a Moody's assistant vice-president and analyst.

Moody’s also pointed to the REIT’s portfolio, and strong track record of access to funding via the debt and equity markets, as factors that support the ratings.

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