The notes are issued by LMIRT's wholly owned subsidiary, LMIRT Capital, and are guaranteed by Perpetual (Asia) in its capacity as trustee of LMIRT.
Fitch Ratings Singapore has downgraded Lippo Malls Indonesia Retail Trust (SGX:D5IU
) 's (LMIRT) Long-Term Issuer Default Rating (IDR) to 'C' from 'CCC'.
The trust’s senior unsecured notes due 2026 have also been downgraded to a 'C' from 'CCC' and has a revised recovery rating of 'RR4' from 'RR6' previously.
