CapitaLand Ascendas REIT notes assigned A3 rating by Moody’s

Moody’s Ratings has assigned a senior unsecured rating of A3 to the SGD-denominated notes issued by CapitaLand Ascendas REIT (CLAR) under its euro medium-term note programme.

The REIT will use proceeds from the notes to refinance its borrowings.

Moody’s noted that CLAR’s issuer rating is supported by its leading market position and consistent income generation from its portfolio of industrial and business space properties across Singapore, Australia, Europe, the UK, and the US.