Redefine Properties Limited: Update of Key Credit Factors Following Conclusion of Sovereign Review
A detailed rationale for Redefine's rating highlighting the diversified property portfolio with stable vacancy rates offset by weak credit metrics and credit linkages to South Africa.Redefine Properties is a real estate investment trust (REIT). Co. operates through its local and foreign segments. Co.'s local segment is comprised of four subsectors: office, retail and industrial and Fountainhead. Co.'s local segment includes contractual rental income, property expenses, investment properties excluding developments and non-current assets held-for-sale.
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