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AMB Property Corp.'s $300 Million 4.5% Senior Notes Assigned 'BBB' Rating Aug 10
Standard & Poors, August 2010
OVERVIEW We assigned our 'BBB' rating to AMB Property Corp.'s $300 million 4.5% senior unsecured notes due Aug. 15, 2017. The company plans to use the proceeds to repay existing debt and to extend debt maturities. AMB has proactively managed its balance sheet by raising equity to reduce leverage levels, recycling assets, and sourcing attractively priced debt and private equity capital to support its global fund management business. Our negative ratings outlook, however, acknowledges the current challenging industrial operating fundamentals, which we believe could continue to put pressure on AMB's core cash flow and debt coverage measures. NEW YORK (Standard & Poor's) Aug. 5, 2010--Standard & Poor's Ratings Services today assigned its 'BBB' issue-level rating to AMB Property Corp.'s $300...
Companies mentioned in this report are: ProLogis Inc,ProLogis L.P.
Action: New Rating
Action: Outlook: Negative
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.
ProLogis Inc,ProLogis L.P.