Moody's changes Far East Hospitality Trust's rating outlook to negative
Singapore, December 12, 2016-- Moody's Investors Service has affirmed the Baa2 issuer rating of Far East Hospitality Trust. At the same time, Moody's has changed the outlook on the rating to negative from stable. "The negative rating outlook reflects the weakening of FEHT's financial profile," says Jacintha Poh, a Moody's Vice President and Senior Analyst.Far East Hospitality Trust is a hotel and serviced residence hospitality trust based in Singapore, and comprises Far East Hospitality Real Estate Investment Trust (Far East H-REIT) and Far East Hospitality Business Trust. The Trust, through Far East H-REIT, is engaged in investing on a long-term basis in a portfolio of income-producing real estate in Singapore, used primarily for hospitality and/or hospitality-related purposes, whether wholly or partially, as well as real estate-related assets, with the primary objective of achieving return from rental income and for long-term capital growth. As of Dec 31 2015, Far East H-REIT has a portfolio of 8 Hotels and 4 Serviced Residences.
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