Strong asset quality and market position. High degree of operating stability. Moderately conservative financial policy. A moderate pipeline of redevelopment projects. Exposure to cyclical discretionary spending. The ratings on Australian Prime Property Fund Strong asset quality and market position. High degree of operating stability. Moderately conservative financial policy. A moderate pipeline of redevelopment projects. Exposure to cyclical discretionary spending. The ratings on Australian Prime Property Fund – Retail (APPF Retail) reflect the company's strong asset quality and market position, its operating stability, and a moderately conservative financial policy. These strengths are tempered by the fund's exposure to development risks and cyclical discretionary spending. The fund enjoys a strong market position, benefiting from its high-quality assets, which are well located in Australia. The fund's operating stability is supported by its geographic diversity, a well-diversified tenant base, well-spreadlease expiry profile, and low vacancy. These strength help offset exposure to cyclical retail spending. Although the
