Moody’s Investors Service has affirmed the B2 corporate family rating of property developer Modernland Realty. The outlook on ratings is maintained at stable. Moody’s has also affirmed the B2 backed senior unsecured rating of the 2019 notes issued by Marquee Land Pte. Ltd. and the 2024 notes issued by Modernland Overseas Pte. Ltd. Both parties are wholly owned subsidiaries of Modernland. The notes are guaranteed by Modernland and most of its subsidiaries.