CapitaCommercial Trust (CCT) said on Tuesday almost half of its leases expiring this year have been renewed.
The REIT has also signed on new leases and renewals for an aggregate area of some 336,000 square feet in the first four months of 2009. Key tenants include Legg Mason, BNI, Koufu and parent company, CapitaLand.
It gave the update as ratings agency Moody’s upgraded its outlook. The ratings agency had changed CCT’s rating, saying the move is in response to CCT’s completion of its rights issue.
Moody’s said the move is expected to materially improve CCT’s credit metrics and enhance its financial flexibility.
Source : Channel NewsAsia – 7 Jul 2009