Lippo Malls Indonesia Retail (SG:D5IU) has released an update.
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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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