AMP Capital Shopping Centre Fund (ASCF) has completed a refinancing of its senior secured medium-term notes and bank facilities with unsecured bank facilities. ASCF has a portfolio of 12 well-located and high-quality, shopping centers in Australia and New Zealand. We have affirmed the 'A' corporate credit rating on ASCF and withdrawn the 'A+' issue rating on the senior secured MTN program. The outlook remains stable, reflecting ASCF's conservative operating strategy and financial flexibility with gearing expected to be maintained at the lower end of its target 15%-to-25% gearing range over the medium term. On May 11, 2015, Standard&Poor's Ratings Services affirmed its 'A' ratings on AMP Capital Shopping Centre Fund (ASCF). The outlook remains stable. At the same
