Ascendas Reit's A3 issuer rating is underpinned by its diversified portfolio of high-quality industrial assets across Singapore, Australia, the UK and the US, as well as its established market position as one of the largest industrial Reits in Singapore, the ratings agency noted.
At the same time, Ascendas Reit's ratings are constrained by its acquisitive growth strategy and use of short-term revolving credit facilities, Moody's noted.
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