Headline: Broker sees 'residual benefits' for REITs in $A rise
Australian Financial Review, pg 47. Lisa Carapiet. 4 June 2009.
Analysts at Credit Suisse say the recent rise in the Australian dollar to US82 cents yesterday is a positive development for Australia’s troubled real estate investment trust sector. The increase in the Australian dollar has reduced pressure from the large amount of overseas debt carried by many in the REIT sector, such as Westfield Group and ING Office. Trusts, such as Macquarie Office, Macquarie Countrywide and Centro Retail, could also see reduction in their net cross currency liability position, says the broker.
CER Price at posting:
9.9¢ Sentiment: Buy Disclosure: Held
