MELBOURNE (Standard&Poor's) April 21, 2010--Standard&Poor's Ratings Services today said that it had assigned its 'A' long-term rating to AMP Capital Shopping Centre Fund's (ASCF; A-/Stable/--) senior secured A$200 million MTN program. This one-notch uplift over the long-term corporate credit rating on ASCF reflects over-collateralization of pledged assets to secured debt. Net proceeds from the MTN issue will be used to refinance and cancel the A$200 million five-year tranche of funding under ASCF's existing A$700 million syndicated bank debt facility. The overall available debt-facility limits for the fund remain A$700 million. These obligations are secured by first-ranking fixed and floating charges over all assets and undertakings of the fund and first-ranking equitable unit and real property mortgages
