Fitch Affirms Parkway Life REIT at 'BBB'; Outlook Stable

(The following statement was released by the rating agency)

SINGAPORE, July 19 (Fitch) Fitch Ratings has affirmed Parkway

Life Real Estate

Investment Trust's (PREIT) 'BBB' Long-Term Foreign-Currency

Issuer Default

Rating (IDR) and the 'BBB' rating on PREIT's SGD500m medium-term

note (MTN)

programme. The Outlook on the IDR is Stable.

KEY RATING DRIVERS

Strong Demand, Asset-Quality: PREIT's rating is driven by the

strong demand for

the services of its hospitals and elderly care homes, and

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