MELBOURNE (Standard&Poor's) May 6, 2009--Standard&Poor's Ratings Services today said that it had assigned its 'A-' corporate credit rating and stable outlook to AMP Capital Shopping Centre Fund (ASCF), an unlisted Australian-based wholesale property fund. At the same time, we assigned our 'A' issue rating to ASCF's senior secured debt obligations; this one-notch uplift—a first for the Australian real-estate investment trust industry—reflects over-collateralization of pledged assets to secured debt. "The ratings on ASCF reflect the company's high-quality and well-diversified portfolio of shopping-center assets, and moderate financial policies," Standard&Poor's credit analyst Craig Parker said. "Stable rental cash flow from ASCF's high-quality asset base, and the fund's strong ownership and management links with the AMP group, should
