Jan 21 - Standard & Poor's Ratings Services today assigned its 'BBB+' issue rating to the
unsecured notes issued by FCT MTN Pte Ltd., a wholly owned subsidiary of HSBC
Institutional Trust Services (Singapore) Limited (HSBCIT; not rated). HSBCIT, in its capacity as
trustee of Frasers Centrepoint Trust (FCT: BBB+/Stable/--; axA+/--),
unconditionally and irrevocably guarantees the notes.
The Singapore dollar (S$) 70 million of Series 007 (3%) notes due 2020 are
issued under FCT MTN Pte Ltd.'s S$500 million multi-currency medium-term notes
program. FCT will use the proceeds to refinance its existing borrowings, as
well as to finance its investments, asset enhancements, and general working
capital purposes.
RELATED CRITERIA AND RESEARCH
-- Frasers Centrepoint Trust, May 7, 2012
-- 2008 Corporate Criteria: Analytical Methodology, April 15, 2008
Source: http://news.yahoo.com/text-p-rates-frasers-centrepoint-trusts-unsecured-notes-105706917--sector.html
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