Research Update: QIC Property Fund Assigned 'A' Rating With Positive Outlook

QIC Property Fund (QPF) has conservative financial policies and holds a strong market position in Australian retail shopping centers including through its co-ownership of assets with QIC Shopping Centre Fund. The fund's high-quality shopping-center and office portfolio is of sizable scale, provides solid earnings diversity, and has good geographic diversity. On May 14, 2019, S&P Global Ratings assigned its 'A' issuer credit rating to QPF. The positive rating outlook reflects our view that we could raise the rating to 'A+' over the next 18 to 24 months, should QPF successfully execute its development pipeline while maintaining its conservative debt stance. The 'A' rating reflects QPF's strong portfolio of Australian shopping centers, good geographic diversity, and conservative financial policies. In addition,

...- QIC Property Fund (QPF) has conservative financial policies and holds a strong market position in Australian retail shopping centers including through its co-ownership of assets with QIC Shopping Centre Fund. - The fund's high-quality shopping-center and office portfolio is of sizable scale, provides solid earnings diversity, and has good geographic diversity. - On May 14, 2019, S&P Global Ratings assigned its 'A' issuer credit rating to QPF. - The positive rating outlook reflects our view that we could raise the rating to 'A+' over the next 18 to 24 months, should QPF successfully execute its development pipeline while maintaining its conservative debt stance....

Research Update