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AMB Property Co. Ratings Affirmed; Outlook Stable Nov 02
Standard & Poors, Nov 2002
Abstract
NEW YORK (Standard & Poor's) Nov. 21, 2002--Standard & Poor's Ratings Services today affirmed its 'BBB' corporate credit ratings on AMB Property Co. (AMB) and its operating partnership, AMB Property L.P. In addition, ratings are affirmed on the company's senior notes ('BBB') and preferred stock ('BBB-'). The Outlook is Stable. The affirmations acknowledge the company's diversification, moderately conservative financial policies, and good operating performance relative to its peers and in light of weak market conditions. These strengths are offset by the level of secured debt within the consolidated capital structure, recent forays into international markets, and continued weakness in several U.S. industrial property markets. San Francisco-based AMB is primarily an owner and operator of industrial real estate nationwide with 1,032...
Companies mentioned in this report are: ProLogis L.P.
Action: Affirmed
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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