Lippo Malls Indonesia Retail (SG:D5IU) has released an update.
Moody’s Investors Service has upgraded Lippo Malls Indonesia Retail Trust’s corporate family rating to B3 and its senior unsecured bond rating to Caa1, both seeing an improvement from a previous Caa3 rating. The upgrade comes on the back of the Trust’s enhanced liquidity after successfully managing upcoming debt maturities, repaying a US$97.6 million bond and completing a tender offer with the proceeds from a bank loan. The outlook for LMIR Trust has also been revised to stable, reflecting a positive assessment of its financial stability.
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