Lippo Malls Indonesia Retail (SG:D5IU) has released an update.
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Fitch Ratings has upgraded Lippo Malls Indonesia Retail Trust’s Long Term Issuer Default Rating to ‘CCC+’ from ‘C’, recognizing improved liquidity and the ability to repay short-term debt, despite potential challenges in financing future obligations. The company’s senior unsecured notes have also been upgraded with a recovery rating assigned, while the Trust remains in compliance with its financial covenants.
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