Mirvac Group
(ASX:MGR) has received a credit upgrade from Baa1 to A3, from ratings agency, Moody’s Investor Service.
The real estate group says the upgrade allows the firm to diversify its sources of debt and lengthen its weighted average debt maturity profile.
Mirvac Group says it’s a strong validation of the Group’s strategic direction and robust capital management.
The company says the upgrade also provides the group with greater operational and balance sheet flexibility for the long term.
Shares in Mirvac Group
(ASX:MGR) last traded 0.43 per cent lower on Friday to $2.32.
