GELF Bond Issuer I SA -- Moody's upgrades GELF's ratings to Baa2; stable outlook

London, 21 October 2014 -- Moody's Investors Service has today upgraded Goodman European Logistics Fund FCP-FIS (GELF) and assigned a long-term backed issuer rating of Baa2 and withdrawn the Baa3 corporate family rating. Concurrently, the backed senior unsecured rating of GELF Bond Issuer I S.A. was upgraded to Baa2 from Baa3, the provisional backed long-term rating of its EUR5.0 billion guaranteed medium-term notes programme was upgraded to (P)Baa2 from (P)Baa3 and the provisional backed short-term rating was upgraded to (P)Prime-2 from (P)Prime-3. The rating of the EUR500 million backed variable rate notes due 2018 issued thereunder was upgraded to Baa2 from Baa3. The outlook on all ratings is stable.

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