...We expect credit metrics to remain under pressure due to elevated interest rates and subdued demand for office space. Our base case projects a growth in cash flow in fiscal year 2023 ending Dec. 31, helped primarily by the logistics and retail sector. But we expect funds from operations (FFO) in fiscal 2023 to be subdued when compared to FFO in fiscal 2022. The pressure on FFO this year will be driven mainly by the increased borrowing costs incurred on GPT's floating rate debt. Even though GPT has increased the level of interest rate hedging to 78% of the drawn debt for fiscal 2023 vs 76% of the drawn debt for fiscal 2022, hedging declines in the outer years. We expect that the rapid rise in interest rates will cause the weighted average cost of debt to increase to above 4% in fiscal 2023 from 3.2% in fiscal 2022. In response to subdued FFO, we expect GPT will pursue capital management initiatives to reduce debt. Also, we think management will seek to defer discretionary capital expenditure...