Moody's Investors Services has affirmed the Baa2 issuer and debt ratings for office properties-focused REIT, Frasers Commercial Trust (FCOT).
The firm has also changed its outlook on all ratings on the REIT to stable from negative.
FCOT is a Singapore-listed REIT with a portfolio of six properties across Australia, Singapore and the UK.
The REIT announced on 26 June that it has declined to participate as a co-investor in the development of Frasers Tower, a 38-storey Grade-A property in Singapore’s central business district (CBD).
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