Outlooks On Three Australian Retail REITs Revised To Stable From Negative; Ratings On Eight Affirmed

In our view, the prudent response by Australian retail REITs to the COVID-19 pandemic will provide a buffer for them to weather further disruptions. We expect these REITs to continue to prioritize cash preservation and use available financial levers, such as expenditure curtailment, reduction in cash distributions, and other sources, to offset the impact of the pandemic. Further, a continued disciplined approach to liquidity management underpins rating stability. On July 8, 2021, S&P Global Ratings revised its rating outlook on three Australian retail REITs to stable from negative. We affirmed the ratings on all eight retail REITs. The outlook on one REIT remains negative. The outlook on the other four remains stable. MELBOURNE (S&P Global Ratings) July 8, 2021--S&P Global

...July 7, 2021 - In our view, the prudent response by Australian retail REITs to the COVID-19 pandemic will provide a buffer for them to weather further disruptions. - We expect these REITs to continue to prioritize cash preservation and use available financial levers, such as expenditure curtailment, reduction in cash distributions, and other sources, to offset the impact of the pandemic. - Further, a continued disciplined approach to liquidity management underpins rating stability. - On July 8, 2021, S&P Global Ratings revised its rating outlook on three Australian retail REITs to stable from negative. We affirmed the ratings on all eight retail REITs. The outlook on one REIT remains negative. The outlook on the other four remains stable. MELBOURNE (S&P Global Ratings) July 8, 2021--S&P Global Ratings today took the following rating actions on Australian retail REITs....

Ratings Action