Fitch Ratings downgrades Ascott REIT’s outlook to negative

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Fitch Ratings has revised Ascott REIT’s outlook from stable to negative amid an unprecedented downturn in the hotel and lodgings industry.

Ascott Residence Trust (ART) is currently trading on the Singapore Exchange at a steep discount of approximately 30% to book value, according to data compiled on the Singapore REITs table.


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