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

Fitch Ratings has once again downgraded the long-term issuer default rating for Singapore-listed retail REIT, Lippo Malls Indonesia Retail Trust's (LMIRT).

The rating has been downgraded to 'CCC', from 'CCC+'.

Fitch has also downgraded the rating on the REIT's senior unsecured notes due 2024 and 2026 to 'CCC', from 'CCC+'.

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By Shariffa Al-Habshee

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