Ascott Residence Trust's Citadines City Centre Frankfurt. (Photo: Ascott Residence Trust)

Fitch Ratings has affirmed its ‘BBB’ long-term issuer rating on Ascott Residence Trust (Ascott REIT), with a stable outlook.

The REIT’s 'BBB' senior unsecured rating, and the 'BBB' rating on its SGD1 billion (USD730 million) of outstanding multicurrency medium-term notes programme, were also affirmed.

The affirmations reflect Fitch's expectation that Ascott REIT’s robust performance will continue in the medium term.

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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.