0806 GMT - Frasers Logistics & Commercial Trust's aggregate leverage ratio may improve, OCBC Investment Research says in a research report, as it maintains the unit's buy rating. The REIT's aggregate leverage ratio is estimated to drop from 33.1% as at end-March to 29.5% post-divestment of Cross Street Exchange in Singapore and repayment of S$395 million of debt, the researcher says. This would give the REIT substantial debt headroom of S$1.3 billion before its aggregate leverage ratio reaches 40%. But OIR trims the unit's fair-value estimate to S$1.61 from S$1.66 to partly reflect its lowered DPU forecasts for the REIT in FY 2022-2023. The units are 3.4% lower at S$1.40. (ronnie.harui@wsj.com)
$(END)$ Dow Jones Newswires
May 10, 2022 04:06 ET (08:06 GMT)
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