Lippo Malls Puri is currently owned by a subsidiary of Lippo Malls Indonesia Retail Trust's sponsor. (Photo: Lippo Malls Indonesia Retail Trust)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 downgraded Lippo Malls Indonesia Retail Trust's (LMIRT) long-term issuer default rating (IDR) to 'C' from 'CC'.

The agency has also made it clear that it does not expect the REIT to carry on as a going concern given its distressed debt levels.

LMIRT is a Singapore Exchange (SGX)-listed REIT that owns a portfolio of retail malls across Indonesia.

Dear members, please login to continue reading this article.


Login or sign-up for a free 25-day trial here. Why subscribe?

By Shariffa Al-Habshee

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