|
|
 |
|
Viewing report
|
|
|
|
Bulletin: Simon Property Group Ratings Not Immediately Affected By $1B Share Repurchase Program Jul 07
Standard & Poors, July 2007
Abstract
NEW YORK (Standard & Poor's) July 27, 2007--Standard & Poor's Ratings Services today said that its ratings on Simon Property Group Inc. (A-/Stable/--) and all of its related entities are not immediately affected by yesterday's announcement of a substantial new common stock repurchase program approved by the company's board of directors. The authorization allows the company to repurchase up to $1 billion of common stock (3% of its roughly $32.5 billion equity market value) over the next 24 months. While we expect the company to opportunistically purchase shares over time, the ultimate size, timing, and financing of share repurchases are not known at this time. Standard & Poor's will closely monitor share repurchases and the impact of this activity to...
Companies mentioned in this report are: Simon Property Group, Inc,Chelsea Property Group Inc. ,Simon Property Group, L.P.,SPG Properties Inc.,Retail Property Trust (The)
Action: Bulletin
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.
|
|
|
|
