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Brixmor LLC Ratings Raised On Lower Leverage Under New Parent Oct 11
Standard & Poors, Oct 2011
Abstract
OVERVIEW 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. NEW YORK (Standard & Poor's) Oct. 7, 2011--Standard & Poor's Ratings Services today raised its corporate credit and unsecured debt ratings on Brixmor LLC to 'B' from 'CCC+' and removed them from CreditWatch, where we...
Companies mentioned in this report are: Brixmor LLC
Action: Removed From CreditWatch
Action: Upgraded
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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