Binjai Supermall (Photo: Lippo Malls Indonesia Retail Trust)Binjai Supermall (Photo: Lippo Malls Indonesia Retail Trust)

Lippo Malls Indonesia Retail Trust’s (LMIRT) corporate family rating has been downgraded to non-investment grade given riskier refinancing risks.

The retail-focused REIT currently has a portfolio of 30 malls across Indonesia, with over 900,000 square metres of net lettable area (NLA).

The REIT is presently featuring a distribution yield of about 3.3%, according to data compiled by the Singapore REITs table.

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By Shariffa Al-Habshee

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