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AMB Property L.P.'s $500 Million Senior Unsecured Notes Due 2016 And 2019 Assigned 'BBB' Ratings Nov 09
Standard & Poors, Nov 2009
Abstract
OVERVIEW We assigned 'BBB' ratings to AMB Property L.P.'s $250 million 6.125% senior unsecured notes due 2016 and $250 million 6.625% senior unsecured notes due 2019. AMB will use proceeds to repay debt, including tendering for up to $250 million of its existing senior notes. AMB has proactively managed its financial risk profile by issuing equity and selling assets to reduce its leverage and debt refinance needs. However, our negative outlook continues to reflect challenging industrial operating fundamentals that could pressure cash flow and debt coverage metrics. NEW YORK (Standard & Poor's) Nov. 18, 2009--Standard & Poor's Ratings Services today assigned its 'BBB' senior unsecured debt rating to the $250 million 6.125% senior unsecured notes due 2016 and the $250...
Companies mentioned in this report are: ProLogis L.P.,ProLogis Inc
Action: New Rating
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.
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