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Summary: Vornado Realty Trust Sep 11 Product Image

Summary: Vornado Realty Trust Sep 11

  • Published: September 2011
  • Standard & Poors

Abstract
Standard & Poor's Ratings Services' ratings on Vornado Realty Trust and its operating subsidiary, Vornado Realty L.P. (collectively, Vornado), reflect the company's satisfactory business risk profile as one of the largest equity real estate investment trusts (REITs), with strong positions in the New York City and Washington, D.C. metro office markets. The ratings also reflect the company's intermediate financial risk profile, with strengthened coverage metrics and moderate financial leverage, albeit with a high degree of structural complexity, given Vornado's varied revenue sources and funding channels. New York City-based Vornado is a fully-integrated real estate company and one of the nation's largest equity REITs with an asset base that totaled roughly $20.5 billion (book value) as of June 30, 2011. The...

Companies mentioned in this report are: Vornado Realty Trust,Vornado Realty L.P.
Action: Review

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Vornado Realty Trust,Vornado Realty L.P.

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