FCOT – BT

S&P affirms FCOT's 'BB' long-term corporate credit rating, revises outlook to positive

Standard & Poor's on Wednesday affirmed Frasers Commercial Trust (FCOT)'s 'BB' long-term corporate credit rating and revised the outlook from stable to positive.

S&P notes that the "positive outlook reflects its expectation that FCOT's financial risk profile could strengthen in the next 12 to 18 months, assuming the trust uses the proceeds from the proposed sale of KeyPoint to pay down its debt."

FCOT's manager, Frasers Centrepoint Asset Management (Commercial) Ltd, said it will be reviewing the possible uses of the sale proceeds of KeyPoint.