GPT Group (GPT) has a diversified property portfolio across the office, retail, and logistics asset classes and a growing fund management business. The group's financial metrics have weakened in fiscal 2014 due to higher borrowings to fund acquisitions and development activities, although financial metrics are in line with GPT's financial policy. We anticipate financial metrics will remain consistent with an "intermediate" financial risk profile over the medium term. We have therefore revised the financial risk profile assessment on the group to "intermediate" from "modest". In turn, we have also revised the financial policy modifier to "neutral" from "negative"; therefore, there is no impact from the change in financial risk profile on the corporate credit rating. We affirmed the 'A-/A-2' ratings
