Mapletree Logistics Trust: Update to credit analysis

Moody's affirms Mapletree Logistics Trust's Baa2 ratings; outlook stable - Rating Action – 2020/05/08 – US$ 180.00 – ...ASSESSMENTS, OTHER OPINIONS AND PUBLICATIONS ARE NOT INTENDED FOR USE BY ANY PERSON AS A BENCHMARK AS THAT TERM IS DEFINED FOR REGULATORY PURPOSES AND MUST NOT BE USED IN ANY WAY THAT COULD RESULT IN THEM BEING CONSIDERED A BENCHMARK. All information contained herein is obtained by MOODY'S from sources believed by it to be accurate and reliable. Because of the possibility of human or mechanical error as well as other factors, however, all information contained herein is provided "AS IS" without warranty of any kind. MOODY'S adopts all necessary measures so that the information it uses in assigning a credit rating is of sufficient quality and from sources MOODY'S considers to be reliable including, when appropriate, independent third-party sources. However, MOODY'S is not an auditor and cannot in every instance independently verify or validate information received in the rating process or in preparing its Publications. To the extent permitted by law, MOODY'S and its directors, officers,...

Mapletree Logistics Trust: Proposed debt-financed acquisitions are credit negative but leverage will remain within rating parameters - Issuer Comment – 2020/01/29 – US$ 200.00 – ...Ratios are calculated using Moody's estimates and standard adjustments. Debt calculation incorporates the 50% equity treatment assigned to the trust's SGD430 million perpetual securities. Sources: Moody's Financial MetricsTM and Moody's Investors Service estimates...

Mapletree Logistics Trust: Update to credit analysis - Credit Opinion – 2019/12/11 – US$ 250.00 – ...Mapletree Logistics Trust's (MLT) Baa2 rating reflects its (1) diversified portfolio of logistics assets across eight markets within Asia Pacific; (2) stable and recurring rental income from its properties which will support healthy credit metrics over the next 12-18 months; (3) excellent liquidity over the next 12 months, with no reliance on secured funding; and (4) its ownership by a financially strong sponsor, Mapletree Investments Pte Ltd (Mapletree Investments), because the trust can leverage its sponsor's expertise, track record and strong network of relationship banks. The rating is constrained by MLT's (1) continued appetite for portfolio growth through acquisitions, and (2) increased exposure to tenant concentration....

Mapletree Logistics Trust: Equity placement to finance proposed acquisition is credit positive - Issuer Comment – 2019/10/23 – US$ 200.00 – ...Ratios are calculated using Moody's estimates and standard adjustments. Debt calculation incorporates the 50% equity treatment assigned to the trust's SGD430 million perpetual securities. Sources: Moody's Financial MetricsTM and Moody's Investors Service estimates...

Mapletree Logistics Trust - December 2018 (LTM): Peer Snapshot - Peer Snapshot – 2019/02/21 – US$ 750.00 – ...Baa2 Stable A3 Positive Baa3 Stable Baa1 Stable Mapletree Logistics Trust Ascendas Real Estate Investment Trust ESR-REIT Mapletree Commercial Trust...

Mapletree Logistics Trust - September 2018 (LTM): Peer Snapshot - Peer Snapshot – 2018/12/11 – US$ 750.00 – ...Baa2 Stable A3 Positive Baa3 Stable Baa1 Stable Mapletree Logistics Trust Ascendas Real Estate Investment Trust ESR-REIT Mapletree Commercial Trust...

Mapletree Logistics Trust: MLTs equity raise will improve financial flexibility, a credit positive - Issuer Comment – 2018/09/21 – US$ 200.00 – ...All figures and ratios are calculated using Moody's estimates and standard adjustments. Moody's Forecasts (f) or Projections (proj.) are Moody's opinion and do not represent the views of the issuer. FY2018 denotes fiscal year ended 31 March 2018. Sources: Moody's Financial Metrics, Moody's Investors Service estimates...

Mapletree Logistics Trust - June 2018 (LTM): Peer Snapshot - Peer Snapshot – 2018/09/05 – US$ 750.00 – ...Baa2 Stable A3 Positive Baa3 Stable Baa1 Stable Mapletree Logistics Trust Ascendas Real Estate Investment Trust ESR-REIT Mapletree Commercial Trust...

Mapletree Logistics Trust: Update following ratings downgrade to Baa2 - Credit Opinion – 2018/07/13 – US$ 250.00 – ...Mapletree Logistics Trust's (MLT) Baa2 issuer rating reflects its diversified portfolio of logistics assets across eight markets within Asia Pacific, stable and recurring rental income from its properties, good financial flexibility with no reliance on secured funding and the strong support from its financially-strong sponsor Mapletree Investments Pte Ltd. (Mapletree Investments). At the same time, MLT's rating incorporates our expectations that its credit metrics will weaken following its proposed purchase of five logistics assets in Singapore, on the assumption that the purchase will be debt funded, and that the trust will continue to pursue portfolio growth through acquisitions over the next 12-24 months. The rating also takes into account its heightened exposure to tenant concentration, soft operating environment in Singapore which we believe will only see a modest recovery in early 2019, as well as the inherent liquidity risks associated with Singapore REITs as a result of their high...

Moody's downgrades Mapletree Logistics Trust to Baa2; outlook stable - Rating Action – 2018/07/10 – US$ 180.00 – ...MOODY'S CREDIT RATINGS AND MOODY'S PUBLICATIONS ARE NOT INTENDED FOR USE BY RETAIL INVESTORS AND IT WOULD BE RECKLESS AND INAPPROPRIATE FOR RETAIL INVESTORS TO USE MOODY'S CREDIT RATINGS OR MOODY'S PUBLICATIONS WHEN MAKING AN INVESTMENT DECISION. IF IN DOUBT YOU SHOULD CONTACT YOUR FINANCIAL OR OTHER PROFESSIONAL ADVISER. ALL INFORMATION CONTAINED HEREIN IS PROTECTED BY LAW, INCLUDING BUT NOT LIMITED TO, COPYRIGHT LAW, AND NONE OF SUCH INFORMATION MAY BE COPIED OR OTHERWISE REPRODUCED, REPACKAGED, FURTHER TRANSMITTED, TRANSFERRED, DISSEMINATED, REDISTRIBUTED OR RESOLD, OR STORED FOR SUBSEQUENT USE FOR ANY SUCH PURPOSE, IN WHOLE OR IN PART, IN ANY FORM OR MANNER OR BY ANY MEANS WHATSOEVER, BY ANY PERSON WITHOUT MOODY'S PRIOR WRITTEN CONSENT. CREDIT RATINGS AND MOODY'S PUBLICATIONS ARE NOT INTENDED FOR USE BY ANY PERSON AS A BENCHMARK AS THAT TERM IS DEFINED FOR REGULATORY PURPOSES AND MUST NOT BE USED IN ANY WAY THAT COULD RESULT IN THEM BEING CONSIDERED A BENCHMARK. All information contained...