Moody's assigned a first-time Baa1 issuer rating to Australian property company Charter Hall Group, with a stable outlook.
Moody's said in a note that the rating takes into account the company's robust credit profile, specifically its exceptionally strong and good credit metrics on a head-stock level and a look-through basis, respectively.
The rating agency also attributed the rating to Charter Hall's enhanced earnings, its diversification across multiple funds, predictable property-related income and diversified sector exposure.
The stable outlook reflects expectation by Moody's for Charter Hall's debt-service capacity to stay strong with sound predictable earnings from funds under management, as well as distributions received.
