Ascendas REIT's property at 9 Changi South Street 3, Singapore. (Photo: REITsWeek)

Moody's Investors Service has assigned a senior unsecured rating of A3 to the proposed HKD-denominated notes to be issued by Ascendas REIT.

The notes will be issued under the REIT’s existing euro medium-term securities program, which is rated (P)A3.

Ascendas REIT will use the proceeds from the notes for general working capital purposes.

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By Ridzwan Rahmat

Ridzwan has been analysing REITs and business trusts since 2008, and personally manages a portfolio comprising mainly of SGX-listed REITs. He founded REITsWeek in 2013.