Digital Core REIT - UOB Kay Hian 2023-03-20: Rebalancing Towards Investment Grade Tenants

Digital Core REIT - Rebalancing Towards Investment Grade Tenants

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DIGITAL CORE REIT (SGX:DCRU) | SGinvestors.ioDIGITAL CORE REIT (SGX:DCRU)
  • Cyxtera, Digital Core REIT (SGX:DCRU)’s second-largest tenant accounting for 22.6% of annualised rent, was downgraded by Moody’s from B3 to Caa2 on 17 Feb 23. In the event that Cyxtera files for bankruptcy protection, our FY25 DPU forecast and target price for Digital Core REIT would be reduced by 15% and 14% respectively to US$0.035 and US$0.67 assuming Digital Core REIT backfills half of the vacant data centre spaces.
  • - Read this at SGinvestors.io -

The second shoe to drop.



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