Moody's Ratings has affirmed CapitaLand Ascendas REIT's (CLAR) A3 issuer and senior unsecured ratings with a stable outlook.
This follows the Singapore industrial REIT’s announcement of a SGD1.4 billion series of property acquisitions across Singapore and Japan.
The rating action, announced on 26 March, comes after CLAR revealed on 24 March that it would fund the acquisitions partly through a SGD903.5 million equity fund raising.
The deal includes CLAR's first entry into the Japanese market through a data centre acquisition, marking a significant step in the REIT's geographic expansion strategy.
Related: Institutional investors net sell CapitaLand Ascendas REIT ahead of fundraising
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