Mapletree Commercial Trust’s debt ratings downgraded on retail curbs

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Mapletree Commercial Trust (MCT) is seeing several of its debt-related ratings' outlooks downgraded to negative.

The ratings were downgraded on expectations that the REIT’s debt metrics would weaken, given continued social distancing measures and retail curbs across Singapore.

The REIT is also exposed to weaker sentiments in the office market.

MCT is a mixed commercial REIT with a portfolio of five retail, office, and business park properties across Singapore with a combined appraised value of SGD8.9 billion.

Related: More ominous signs emerge for Singapore office REITs as rents slide

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