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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