Moody’s downgrades Fortress Reit’s credit rating deeper into junk
The listed property fund says the ratings agency’s view is too conservative
09 April 2020 - 12:57
Moody’s Investors Service has downgraded commuter retail and industrial property owner Fortress Reit’s credit rating from Ba1 to Ba2, making it the latest property group to reach the second rung of junk status.
The downgrade comes after the agency downgraded the country’s credit rating to junk on March 28, meaning companies are also likely to attract junk ratings. ..
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.