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Sovereign Wealth Funds Briefing - Categorized | Market

No impact on GLP’s ratings from JV for Brazilian properties

Posted on 16 November 2012

Fitch Ratings says it does not expect Singapore-listed Global Logistic Properties Limited’s ratings to be affected by the announcement that it will form joint ventures (JV) with Canada Pension Plan Investment Board, China Investment Corporation and Government of Singapore Investment Corporation to acquire properties in Brazil.
As GLP intends to fully fund its initial equity contribution of US$334 million through an equity placement, Fitch believes the impact on GLP’s financial profile and ratings will be limited………………………………………..Full Article: Source


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