|
|
 |
|
Viewing report
|
|
|
|
Bulletin: ProLogis Ratings And Outlook Unaffected By The Company's Pending Balance Sheet Initiatives Oct 10
Standard & Poors, Oct 2010
Abstract
NEW YORK (Standard & Poor's) Oct. 27, 2010--Standard & Poor's Ratings Services said today that its ratings and outlook on ProLogis (BBB-/Negative/--) are unaffected by the company's pending balance sheet initiatives. We affirmed our ratings on ProLogis on July 23, 2010. ProLogis announced on Oct. 26, 2010, the pricing of 80 million common shares priced at $12.30 per share that raised nearly $1 billion of gross proceeds. The company also recently announced that it will dispose of $1 billion of assets, plans to pursue a debt tender offer in the $1 billion to $2 billion range, and actuate a 25% common dividend cut. We view these actions as credit positives, as the proceeds from the equity offering and asset sales...
Companies mentioned in this report are: ProLogis
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.
|
|
|
|
