|Bid||0.1190 x 0|
|Ask||0.1200 x 0|
|Day's Range||0.1190 - 0.1230|
|52 Week Range||0.1020 - 0.2450|
|Beta (5Y Monthly)||1.32|
|PE Ratio (TTM)||N/A|
|Earnings Date||Apr 30, 2020|
|Forward Dividend & Yield||0.01 (10.65%)|
|Ex-Dividend Date||Aug 03, 2020|
|1y Target Est||0.27|
Moody's Investors Service has downgraded the corporate family rating of Lippo Malls Indonesia Retail Trust (LMIRT) to B1 from Ba3. In addition, Moody's has downgraded the backed senior unsecured rating on the bond issued by LMIRT Capital Pte. Ltd., a wholly-owned subsidiary of LMIRT, to B1 from Ba3.
Moody's Investors Service has affirmed the Ba3 corporate family rating of Lippo Malls Indonesia Retail Trust (LMIRT). At the same time, Moody's has affirmed the Ba3 backed senior unsecured rating on the bond issued by LMIRT Capital Pte. Ltd., a wholly-owned subsidiary of LMIRT. "The change in outlook to negative reflects our expectation that LMIRT's credit metrics will weaken in 2020 because of the softer operating conditions caused by the coronavirus outbreak, and due to the depreciation of the Indonesian rupiah against the Singapore dollar," says Jacintha Poh, a Moody's Vice President and Senior Credit Officer.
Lippo Karawaci will use the net proceeds to partially redeem the 2022 notes and for general corporate purposes. "The proposed notes are not exposed to either legal or structural subordination risk, therefore the rating is aligned with Lippo Karawaci's B3 corporate family rating," says Jacintha Poh, a Moody's Vice President and Senior Credit Officer. At 30 September 2019, nearly all of Lippo Karawaci's consolidated borrowings were held at the holding company and around 92% of these borrowings were unsecured.