S&P Global Ratings affirmed the longer-term issuer credit rating of Stoneweg European REIT (SGX:SET) at BBB- with a stable outlook, according to a Tuesday filing with the Singapore Exchange.
The rating agency also affirmed the BBB- issue rating on the senior unsecured bonds guaranteed by the REIT.
The ratings are driven by the S&P expectations that Stoneweg European REIT will deliver "stable earnings and asset valuations" over the next two years, the filing stated.
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