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Bulletin: ProLogis Ratings Unaffected By Announced Tender Offer To Increase Stake In ProLogis European Properties Apr 11
Standard & Poors, April 2011
Abstract
NEW YORK (Standard & Poor's) April 18, 2011--Standard & Poor's Ratings Services today stated that its 'BBB-' corporate credit rating and stable outlook on ProLogis are currently unaffected by the company's recent tender offer to acquire any and all of the outstanding ordinary and convertible preferred units in ProLogis European Properties (PEPR) that it does not currently own. ProLogis recently increased its ownership stake in PEPR to 38%. ProLogis will offer Euro6.10 for each ordinary unit it does not own. ProLogis did not disclose cash consideration for the convertible preferred unitholders; this information will be detailed in the offer document. The offer is subject to approval of the offer document by the Luxembourg regulator and the tender period is expected...
Companies mentioned in this report are: ProLogis,ProLogis Inc
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.
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