|
|
 |
|
Viewing report
|
|
|
|
AMB Property Corp. May 09
Standard & Poors, May 2009
Abstract
Well located, diverse core portfolio of industrial properties with manageable lease rollover; Balance sheet is better positioned relative to its industrial REIT peers; and Recent equity issuance and asset sales/contributions bolstered liquidity position and balance sheet. Economic pressure and credit market tightness may result in lower core operating earnings, and the erosion of development profits, which may pressure currently adequate debt coverage metrics; A large and mostly speculative development pipeline requires additional funding, and will also weigh on debt coverage metrics as lease-up is prolonged; and AMB faces meaningful debt maturities in 2010. A moderate leverage profile and good liquidity position support AMB Property Corp.'s (AMB's) ratings. Both the leverage profile and liquidity position improved following an equity offering and...
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
|
|
|
|
