The Link Real Estate Investment Trust http://www.alacrastore.com/company-snapshot/The_Link_Real_Estate_Investment_Trust-3821677 Sunday, October 12, 2008 11:41:02 PM 3821677 The Link Real Estate Investment Trust en AlacraStore RSS Builder 1.0 30 http://www.alacrastore.com/storecontent/spcred/520899spcred/520899normThe latest News from S&Pglobalstructured9/17/2008 2:50:27 AM100News520899Hong KongRetail REIT'sAsiaEmerging MarketsGlobal IssuersStructured FinanceCorporationsReal Estate CompaniesNewsHONG KONG (Standard&Poor's) July 17, 2006--Standard&Poor's Ratings Services said today that it had assigned its 'A' issue rating to a proposed issue of Hong Kong dollar (HK$) 2.4 billion senior unsecured notes by Link Finance (Cayman) 2006 Ltd. The three-tranche deal comprises HK$800 million in three-year notes, HK$800 million in two-year notes, and HK$800 million in two-year floating rate notes. The issuer is guaranteed by The Link Holdings Ltd. and The Link Properties Ltd., which along with The Link Management Ltd. comprise The Link Real Estate Investment Trust (The Link; A/Stable/--). The proceeds will be used to refinance a short-term debt bridging facility with longer-term debt. The ratings on The Link reflect its very large andHKG40402060 404020 4040 40Link Real Estate Investment Trust (The)402203ASIAEMERGING823@HKNEWSHKGLink Finance (Cayman) 2006 Ltd. (The)402916ASIAEMERGINGGLOBISSSTRUCCORPRECCredit & Investment ResearchS&P Credit Researchhttp://www.alacrastore.com/storecontent/spcred/670852spcred/670852normThe latest Full Report from S&Pglobalstructured9/12/2008 8:24:15 AM400Full Report670852Hong KongRetail REIT'sAsiaEmerging MarketsGlobal IssuersStructured FinanceCorporationsReal Estate CompaniesFull ReportLarge-scale property holdings, well spread across Hong Kong Stable earnings growth underpinned by a diverse tenant mix Good financial flexibility Greater geographic concentration risk compared with global peers' Limited upward pricing flexibility The rating on The Link Real Estate Investment Trust (The Link) reflects the trust's large property holdings that are well spread across Hong Kong, and stable earnings growth, underpinned by ongoing asset enhancement and a diverse tenant mix. The Link also benefits from its good financial flexibility. These strengths are tempered by The Link's greater geographic concentration risk compared with its global peers' and limited upward pricing flexibility. The Link's business risk profile is strong, underpinned by its leading market position in Hong Kong and supported by aHKG40402060 404020 4040 40Link Real Estate Investment Trust (The)402203ASIAEMERGING823@HKFULLGLOBISSSTRUCCORPRECCredit & Investment ResearchS&P Credit Researchhttp://www.alacrastore.com/storecontent/spcred/670855spcred/670855normThe latest Summary from S&Pglobalstructured9/12/2008 8:24:15 AM175Summary670855Hong KongRetail REIT'sAsiaEmerging MarketsGlobal IssuersStructured FinanceCorporationsReal Estate CompaniesSummaryThe rating on The Link Real Estate Investment Trust (The Link) reflects the trust's large property holdings that are well spread across Hong Kong, and stable earnings growth, underpinned by ongoing asset enhancement and a diverse tenant mix. The Link also benefits from its good financial flexibility. These strengths are tempered by The Link's greater geographic concentration risk compared with its global peers' and limited upward pricing flexibility. The Link's business risk profile is strong, underpinned by its leading market position in Hong Kong and supported by a portfolio of large-scale and widespread integrated retail and car park facilities, which had an appraised value of about Hong Kong dollar (HK$) 44.3 billion as at March 31, 2008. The Link's assetHKG40402060 404020 4040 40Link Real Estate Investment Trust (The)402203ASIAEMERGING823@HKSUMMARYGLOBISSSTRUCCORPRECCredit & Investment ResearchS&P Credit Researchhttp://www.alacrastore.com/storecontent/moodys/COP_809556094moodys/COP_809556094htmlCredit Opinion1/2/2008 7:29:05 PMGlobal Credit Research Credit Opinion # DEC #### Credit Opinion: Link Real Estate Investment Trust (The) Link Real Estate Investment Trust (The) Hong Kong Ratings Category Moody's Rating Outlook Positive Corporate Family Rating -Dom...Link Real Estate Investment Trust (The)809556094150.0000NewshtmlLink Real Estate Investment Trust (The)COP_809556094Credit & Investment ResearchMoody's Global Credit Researchhttp://www.alacrastore.com/storecontent/spcred/623504spcred/623504normThe latest Full Report from S&P12/30/2007 11:32:11 PMFull Report400globalstructured623504Hong KongRetail REIT'sAsiaEmerging MarketsGlobal IssuersStructured FinanceCorporationsReal Estate CompaniesFull ReportA large and diverse tenant base A well-located property portfolio Solid financial flexibility Strong and steady earnings Short-dated lease maturity profile Geographic concentration Short operating history The rating on The Link Real Estate Investment Trust (The Link) reflects the trust's very large and diverse property portfolio, diverse tenant base, good growth opportunities, and modest financial risk profile. These strengths are offset by its short-term leases, geographic concentration, and short operating history. The Link is a real estate investment trust (REIT) created from assets divested from the Hong Kong Housing Authority. It has a real estate portfolio of 180 retail and car park facilities, most of which are integrated and connected to local public housing estates. The Link's portfolio now consistsHKG40402060 404020 4040 40Link Real Estate Investment Trust (The)402203ASIAEMERGING823@HKFULLGLOBISSSTRUCCORPRECCredit & Investment ResearchS&P Credit Researchhttp://www.alacrastore.com/storecontent/moodys/PR_142649_809597264moodys/PR_142649_809597264htmlRating Action10/24/2007 12:20:55 AMGlobal Credit Research Rating Action ## OCT #### Rating Action: Link Finance (Cayman) #### Limited (The) Moody's revises Link's A# outlook to positive Hong Kong, October ##, #### -- Moody's Investors Service has changed the outlook...Link Finance (Cayman) 2006 Limited (The)809597264150.0000Newshtml809556094Link Real Estate Investment Trust (The)Link Finance (Cayman) 2006 Limited (The); Link Real Estate Investment Trust (The)PR_142649_809597264Credit & Investment ResearchMoody's Global Credit Research