We have raised our long-term corporate credit rating on ASCF to 'A', from 'A-', and assigned a stable rating outlook. The upgrade reflects the strength of ASCF's financial profile, which we expect to remain consistent with a higher rating over the medium term. We have raised our issue-level ratings on ASCF's senior-secured debt obligations to 'A+', from 'A'. On Aug. 4, 2011, Standard&Poor's Ratings Services raised its long-term corporate credit rating on AMP Capital Shopping Centre Fund (ASCF), an unlisted Australian-based wholesale property fund, to 'A', from 'A-'. At the same time, we raised our issue-level ratings on ASCF's senior-secured debt obligations to 'A+', from 'A'; this one-notch uplift above the corporate credit rating reflects over-collateralization of pledged
