Research Update: Brixmor LLC Ratings Raised On Lower Leverage Under New Parent Oct 11
- ID: 1931725
- October 2011
- Standard & Poors
BRE Retail Holdings Inc. acquired Brixmor Property Group (which includes Brixmor LLC along with other related U.S. assets and a management platform) on June 28, 2011. The $9.0 billion transaction delevered the acquired entities by roughly $1.0 billion, eliminated previous structural and reporting complexities, and improved Brixmor Property Group's liquidity. We raised our corporate credit and issue ratings on Brixmor LLC to 'B' and removed them from CreditWatch, where we had placed them with positive implications on March 2, 2011. The outlook is stable. On October 7, 2011, Standard & Poor's Ratings Services raised its corporate credit and unsecured debt ratings on Brixmor LLC to 'B' from 'CCC+' and removed them from CreditWatch, where we placed them with positive implications...
Companies mentioned in this report are: Brixmor LLC
Action: Removed From CreditWatch
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Product Type: Research Update
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