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Simon Property Group Inc. Ratings Removed From Watch, Affirmed; Outlook Stable Oct 03 Product Image

Simon Property Group Inc. Ratings Removed From Watch, Affirmed; Outlook Stable Oct 03

  • ID: 1785401
  • October 2003
  • Standard & Poors

FEATURED COMPANIES

  • Simon Property Group Inc.
  • Simon Property Group L.P.
  • MORE

Abstract
NEW YORK (Standard & Poor's) Oct. 8, 2003--Standard & Poor's Ratings Services said today that it affirmed its ratings on Simon Property Group Inc. (Simon) and its affiliates, and removed them from CreditWatch, where they were placed on Nov. 14, 2002. The outlook is stable. The CreditWatch listing last fall was prompted by Simon's unsolicited bid for its rival Taubman Centers Inc., which owns a small, but highly productive, portfolio of well-positioned regional malls. Simon is the largest operator of mall properties in the U.S. and is a public REIT with total assets of roughly $17 billion on a book value basis. "Standard & Poor's concerns at the time of the takeover announcement included the potentially highly leveraged nature of...

Companies mentioned in this report are:
- Simon Property Group Inc.
- Simon Property Group L.P.

Action: Affirmed, Off CreditWatch

Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.

Research type: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.

- Simon Property Group Inc.
- Simon Property Group L.P.

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