Fitch Ratings has issued a commentary on Yuexiu REIT highlighting its limited rating headroom due to high interest costs and ongoing pressure on rental income amid the oversupply in China’s office market.
The REIT is currently rated BBB- with a negative outlook.
Yuexiu REIT has seen its recurring EBITDA interest coverage fall to 1.4x in the first half of 2024, down from 1.6x in 2023.
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