CapitaLand China Trust Receives Inaugural ‘BBB’ Rating with Stable Outlook from Fitch

Singapore, Singapore, November 4, 2026 -- Rating enhances the Trust’s funding flexibility and access to debt capital markets

CapitaLand China Trust (CLCT) has received a Long-Term Issuer Default Rating of ‘BBB’ with Stable Outlook from Fitch Ratings (Fitch), marking its first investment-grade rating from Fitch. The rating reflects CLCT’s credit profile and its disciplined approach to capital management. CLCT also received a senior unsecured rating of ‘BBB’ from Fitch.

Fitch’s assessment highlights the resilience of CLCT’s well-located retail assets in Beijing and Guangzhou, which have maintained high occupancy and achieved growth in tenant sales. Fitch also recognises CLCT’s access to a high-quality retail tenant network through its sponsor, CapitaLand Investment Limited (CLI), alongside funding access and low funding costs supported by its association with CLI, while taking into consideration prevailing economic conditions in China and its business park market.

Mr Gerry Chan, CEO of CapitaLand China Trust Management Limited, the manager of CLCT, said: “Receiving our first investment-grade credit rating from Fitch marks an important milestone for CLCT. It reflects the resilience of our portfolio, disciplined financial management and prudent approach to capital allocation.

The rating will enhance our access to debt capital markets in Singapore and Greater China, support funding diversification and reinforce stakeholder confidence in our financial resilience.

As we continue to navigate evolving market conditions, we remain committed to maintaining a healthy balance sheet while pursuing sustainable long-term growth for our unitholders.”

DBS Bank Ltd. acted as the sole rating adviser to CLCT.

Please refer to Fitch’s announcement on CLCT’s credit ratings for more information.

CapitaLand China Trust (CLCT) is Singapore’s largest China-focused real estate investment trust (REIT). CLCT’s portfolio comprises eight shopping malls, five business park properties and four logistics park properties. Its total property value is S$4.3 billion based on valuations of its proportionate interests in the portfolio as at 31 December 2025. The geographically diversified portfolio has a total gross floor area of approximately 1.7 million square metres, located across 11 leading Chinese cities.

CLCT was listed on the Singapore Exchange Securities Trading Limited (SGX-ST) on 8 December 2006, and established with the objective of investing on a long-term basis in a diversified portfolio of income-producing real estate and real estate-related assets in mainland China, Hong Kong and Macau that are used primarily for retail, office and industrial purposes (including business parks, logistics facilities, data centres and integrated developments).

CLCT is managed by CapitaLand China Trust Management Limited, a wholly owned subsidiary of Singapore-listed CapitaLand Investment Limited, a leading global real asset manager with a strong presence in Asia. For more information, please visit: www.clct.com.sg.

CapitaLand Investment (CLI) is a leading global real asset manager with a strong presence in Asia. Headquartered and listed in Singapore, CLI operates in over 40 countries, connecting institutional capital to investment opportunities through its on-the-ground expertise and deep local capital networks. Its portfolio spans strategic investments in commercial, lodging and living, logistics and self-storage, data centres and real estate credit, aligned with its high conviction themes. CLI is focused on scaling its asset-light, recurring fee income across fund management, commercial and lodging management, delivering sustainable long-term value through disciplined capital management and responsible investing. For more information, please visit: www.capitalandinvest.com.

Release ID: 89208398