Lippo Malls Puri is currently owned by a subsidiary of Lippo Malls Indonesia Retail Trust's sponsor. (Photo: Lippo Malls Indonesia Retail Trust)

The credit-related ratings of Lippo Malls Indonesia Retail Trust (LMIRT) have been placed on review for downgrade, amid news that the REIT will proceed with the acquisition of Lippo Malls Puri.

The retail REIT first announced its intention to acquire Lippo Malls Puri from its sponsor’s subsidiary in 2019, as reported by REITsWeek in March that year.

Related: Lippo Malls REIT acquires property from sponsor’s subsidiary for USD260 million

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By Shariffa Al-Habshee

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