Moody's upgrades Tritax Big Box credit rating to positive

Following UKCM acquisition

Moody’s Ratings has upgraded Tritax Big Box REIT’s (BBOX) credit rating outlook from Baa1 (stable) to Baa1 (positive).

According to a stock exchange notice today (3 July), the change reflects BBOX's "growing scale, increased portfolio diversification and continued focus on high-quality logistics assets". The upgrade follows BBOX's recent merger with UK Commercial Property REIT (UKCM), which received the green light from UKCM's shareholders in May this year. BBOX's chief financial officer, Frankie Whitehead, said: "This transaction has delivered further scale, portfolio diversification and a significant embedded income growth opportunity within the current portfolio rental reversion." Shareholders g...