DEXUS Property Group has been rated by Moody's Investors Services for the first time.
Dexus has received a Moody’s long-term corporate credit rating of Baa1 (stable).
Moody’s VP/senior analyst Clement Chong said the rating reflects the diverse the portfolio.
“The rating also considers Dexus’ experienced management, and moderate financial leverage which positions the group well to withstand the threats to rental income and property valuations.
“That said, Moody’s remains cautious of the challenging outlook in the office and industrial real estate sectors, especially in the North American industrial property sector, where 22% of Dexus’ assets are location,” Chong added.
Dexus CEO Victor Hoog Antink said the rating reflects the strength of the group’s balance sheet and operating platform and complements the S&P assigned BBB+ rating which the group has held continuously since 2004.
Australian Property Journal
