“This counterbalances its rising exposure to asset developments and acquisitions,” it adds.
Fitch Ratings has assigned CapitaLand India Trust (SGX:CY6U
) (CLINT) a first-time long-term issuer default rating (IDR) of “BBB-“. CLINT’s outlook is also deemed to be “stable”.
“The rating is underpinned by the trust's high-quality portfolio of Grade A offices in India, which we expect will sustain high occupancy rates and positive rental reversions amid strong demand for information technology (IT) outsourcing services,” says the ratings agency in a note dated July 7 (US Eastern time).
