S&P Global Ratings affirmed its long-term corporate credit rating of Starhill Global REIT at BBB+ with a stable outlook.

The rating agency also affirmed the company's axA+ long-term ASEAN regional scale rating.

The ratings agency said that the stable outlook was reflective of the company's projected steady operating performance and stable and adequate cash flow through 2018. The company's profitability was also cited as a factor to the ratings affirmation on the Singaporean REIT.

S&P also affirmed the company's BBB+ issue rating and axA+ ASEAN regional scale rating on its medium-term note program and its drawdown.

S&P Global Ratings and S&P Global Market Intelligence are owned by S&P Global Inc.