...MELBOURNE (Standard & Poor's) April 28, 2015--Standard & Poor's Ratings Services said today that it had affirmed its 'A-/A-2' ratings on Australian REIT GPT Group (GPT) and its related entity and debt issues. The outlook remains positive. "The rating affirmation reflects GPT's high-quality retail, office, and logistics property portfolio, which has an asset value of A$7.1 billion at Dec. 31, 2014. We continue to assess the group's business risk profile as "strong"," said Standard & Poor's credit analyst Tim Wells. In addition, GPT's share of assets in associates and joint ventures is around A$2.7 billion, including its 20% shareholding in the GPT Wholesale Office Fund and GPT Wholesale Shopping Centre Fund. At Dec. 31, 2014, the asset mix split inclusive of assets held in associates and joint ventures was 50% to retail, 36% to office, and 14% to logistics, with over 80% of properties located in New South Wales and Victoria. GPT's fund management business continues to grow, with about A$9.6...
