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AMB Property L.P.?s $325 Million 6.3% Series C Medium-Term Notes Rated 'BBB' Apr 08
Standard & Poors, April 2008
Abstract
NEW YORK (Standard & Poor's) April 30, 2008--Standard & Poor's Ratings Services today assigned its 'BBB' rating to the $325 million 6.300% series C medium-term notes due June 1, 2013, issued by AMB Property L.P. (BBB/Stable/--) (see list). The company will use proceeds from the offering for general corporate purposes, which may include property acquisitions, development, and/or debt repayment (including temporarily reducing borrowings under its unsecured credit facilities). As of March 31, 2008, the company had an outstanding balance of $960 million on its $1.6 billion aggregate credit facilities, and $175 million of senior unsecured notes are scheduled to mature this year. The ratings acknowledge San Francisco, Calif.-based AMB's well-located, institutional-quality industrial properties, which are well diversified across major global...
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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