Australia-based Dexus Wholesale Property Fund (DWPF) has established a supplement to its Australian dollar-denominated medium-term note (MTN) program to enable the issuance of electronic promissory notes (EPNs). On April 5, 2024, S&P Global Ratings assigned its 'A-1' short-term issuer credit rating to DWPF and our 'A-1' short-term issue rating to its MTN program. At the same time, we affirmed our 'A' long-term issuer and issue credit ratings on DWPF. The stable outlook on the long-term issuer credit rating reflects our expectation that DWPF will maintain a conservative approach to development exposure and capital management, consistent with its financial policies. Unitholder redemptions and fund growth can be adequately managed within the current rating. DWPF has ample liquidity to meet near-term debt
