Moody's 'likely' to downgrade merged Westfield

Ratings agency continues review for downgrade of retail group, pending merger.

Ratings agency Moody's is continuing its review for a downgrade of Westfield Group's A2 issuer rating, saying a cut to A3 is likely if a planned merger goes ahead.

The agency placed the rating on review in December after Westfield announced plans to merge its Australian and New Zealand assets with those of Westfield Retail Trust.

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