GPT gets Moodys Rating lift
Moody's have lifted GPTs credit rating due to its moderate financial risk profile and diversified asset base.
The GPT Group announced that Moody’s has upgraded its long term credit rating to A2 from A3 and short term rating to P1 from P2.
The upgrade is based on GPT’s demonstrated commitment to a moderate financial risk profile and the large diversified portfolio of high quality assets across the office, retail and logistics sectors.
CFO Anastasia Clarke said the Group has an excellent track record in our commitment to a strong capital position and Moody’s recognise the key financial benefits of a diversified portfolio of assets and tenants.
“The Moody’s upgrades reflect GPT’s disciplined approach to capital management, and aligns GPT’s credit rating to its stated gearing policy range of 25% - 35%” Mrs Clarke said.