In a Friday report, analyst Joseph Ng says, “FREIT’s recent results have also given us a glimpse of the downstream implication, as the level of receivables has been rising over the last few quarters, though this has not impacted FREIT’s ability to pay out regular DPUs as required.”
SINGAPORE (May 25): OCBC Investment Research is maintaining its “buy” call on First REIT (FREIT) with a fair value estimate of $1.48.
However, S&P has downgraded the credit rating of the REIT’s sponsor, PT Lippo Karawaci (LK), to “B-“ with a negative outlook, citing concerns about the company’s thin liquidity buffer, especially in the face of substantial interest servicing needs.
