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Fitch affirms Global Logistic Properties ratings

Fitch Ratings affirmed Global Logistic Properties Ltd.'s long-term foreign-currency issuer default rating and senior unsecured rating at BBB+.

The outlook is stable.

The rating agency said the company is expected to continue benefiting from its large-scale global portfolio which spans the U.S., China, Japan and Brazil.

Its subsidiaries continue to have strong financial profiles in China and Japan, and the U.S. and Japanese funds continued to benefit from a lower interest rate and mature industrial property markets.

Fitch also said increases in interest rates by the U.S. Federal Reserve will not affect the company as it has locked up its interest rates for 10 years.