Moody's places Vesta on Review for Possible Downgrade

Moody's Investors Service announced on January 9 that it has put on review for possible downgrade the Aaa rating of Vesta Investment Corporation Ltd. (Vesta or Issuer). The transaction is originated 50/50 by CapitaLand Residential Ltd., the residential arm of CapitaLand Ltd., and Lippo China Resources Ltd. The transaction is a cross-border securitisation backed by residential unit purchase receivables of two yet to be completed residential projects in Singapore, namely Scotts HighPark and The Metropolitan Condominium. As of transaction closing, 100 percent of the units were sold under a Deferred Payment Scheme.

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