LMIRT’s rating downgraded to ‘C’ by Fitch

Fitch Ratings Singapore has downgraded Lippo Malls Indonesia Retail Trust (SGX:D5IU) 's D5IU(LMIRT) long-term issuer default ratings (IDR) to ‘C’ from ‘CC’.

The trust’s senior unsecured notes due in 2024 and 2026 issued by LMIRT’s subsidiary, LMIRT Capital, have also been downgraded to ‘C’ from ‘CC’ with a recovery rating remaining at ‘RR4’.