MELBOURNE (Standard&Poor's) Aug. 4, 2011--Standard&Poor's Ratings Services today said that it had raised its long-term corporate credit rating on AMP Capital Shopping Centre Fund (ASCF), an unlisted Australian-based wholesale property fund, to 'A', from 'A-'. At the same time, we raised our issue-level ratings on ASCF's senior-secured debt obligations to 'A+', from 'A'; this one-notch uplift above the corporate credit rating reflects over-collateralization of pledged assets to secured debt. The rating outlook is stable. "The upgrade reflects our view of the strength of ASCF's financial profile following the fund's recent equity raising, and our belief that ASCF's financial profile will remain consistent with a higher rating over the medium term despite the fund's likely discretionary spending
