Fitch Ratings has assigned Singapore-listed CapitaLand India Trust (CLINT) a first-time long-term issuer rating of 'BBB-' with a stable outlook.

In its commentary on the rating action, Fitch pointed to the trust’s portfolio of Grade A offices in India, which are expected to sustain high occupancy rates and positive rental reversions amid strong demand for IT outsourcing services.

This counterbalances its rising exposure to asset developments and acquisitions, said Fitch.

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By Shariffa Al-Habshee

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