Frasers Centrepoint Trust property, Causeway Point. (Photo: REITsWeek)

Moody's Investors Service has placed Frasers Centrepoint Trust’s (FCT’s) Baa1 issuer rating on review for downgrade.

This follows revelations that the retail-focused REIT is acquiring a stake in a Prudential-linked property fund.

The Singapore-listed REIT first announced in late-February that it has entered into conditional sale and purchase agreements to acquire a 17.1312% stake in PGIM Real Estate AsiaRetail Fund Limited.

The fund owns and manages Tiong Bahru Plaza, White Sands, Liang Court, Hougang Mall, Century Square, Tampines 1, office property Central Plaza, and four retail assets in Malaysia.

Read: Frasers Centrepoint Trust to buy stake in Prudential-linked property fund

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By Shariffa Al-Habshee

Shariffa joined REITsWeek in 2017, and monitors Asia-Pacific REITs for the publication.