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AMB Property Corp., AMB Property L.P. 'BBB' Corporate Credit Ratings Affirmed; Outlook Stable Apr 08
Standard & Poors, April 2008
Abstract
NEW YORK (Standard & Poor's) April 28, 2008--Standard & Poor's Ratings Services today affirmed its 'BBB' corporate credit and senior unsecured debt ratings and its 'BBB-' preferred stock rating on AMB Property Corp. and AMB Property L.P. (collectively, AMB). The outlook is stable. The affirmations affect roughly $1.0125 billion of senior notes and $232.5 million of preferred stock. 'The ratings acknowledge AMB's well-located, institutional-quality industrial properties, which are well diversified across major global distribution markets,' said credit analyst Elizabeth Campbell. 'The company has successfully executed its global expansion strategy to date, and the resulting greater geographic diversification should provide a real benefit in the current cycle, as strengths in non-U.S markets are likely to offset exposure to the slowdown in...
Companies mentioned in this report are: ProLogis Inc,ProLogis L.P.
Action: Affirmed
Action: Outlook: Stable
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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