ICRA reaffirms Mindspace REIT's long-term issuer rating at 'AAA/Stable'

The rating continues to favourably factors in the large and diversified portfolio of assets housed under Mindspace Business Parks REIT.

Sep 20, 2021 03:09 IST India Infoline News Service

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Mindspace Business Parks REIT has informed that ICRA Limited has reaffirmed the issuer long-term rating of [ICRA]AAA(Stable) (pronounced ICRA triple A, stable outlook) assigned to the company.

The rating continues to favourably factors in the large and diversified portfolio of assets housed under Mindspace Business Parks REIT (Mindspace REIT). 

According to the  rationale, ICRA believes that Mindspace REIT’s credit profile will be supported by the REIT regulations that restrict the extent of under construction assets in the portfolio to less than 20% of the asset value and the leverage to less than 49% of the asset value.

At around 3:00 PM, Mindspace Business Parks REIT was trading at Rs295.90 apiece down by Rs1.06 or 0.36% on Sensex.

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