Simon Property Group Inc. Ratings Removed From Watch, Affirmed; Outlook Stable Oct 03
- ID: 1785401
- October 2003
- Standard & Poors
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
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Research type: News
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