Fitch Keeps ESR-REIT's Rating at BBB; Outlook Stable
MT Newswires10-22
Fitch Ratings affirmed ESR-REIT's (SGX:9A4U) long-term issuer default rating at BBB with a stable outlook, as well as the BBB rating on its SG$100 million unsecured notes due February 2030.
The rating agency expects the REIT's EBITDA net leverage to reach 8.1x in 2026 and remain below 9x over the next few years, supported by its logistics property portfolio and stable rental income.
Fitch expects overall portfolio occupancy to remain at 91% to 92% over the next two years, with occupancy at logistics properties in Singapore, Japan and Australia projected at around 95%.
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