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AMB Property Corp. Jan 03
Standard & Poors, Jan 2003
Abstract
The rating assigned to AMB Property Corp. (AMB) acknowledges 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 industrial properties, but focuses on eight target markets. AMB's investment focus is in high-throughput distribution properties located near transportation hubs in major markets. AMB's portfolio is well diversified, located in 27 markets, and leased to more than 3,000 tenants with no tenant accounting for...
Companies mentioned in this report are: ProLogis Inc,ProLogis L.P.
Action: Review
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: Full Analysis
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