• +353-1-415-1241(GMT OFFICE HOURS)
  • 1-800-526-8630(US/CAN TOLL FREE)
  • 1-917-300-0470(EST OFFICE HOURS)
Research Update: Public Storage Ratings Affirmed, Off Watch Neg; Outlook Revised To Stable Apr 06 Product Image

Research Update: Public Storage Ratings Affirmed, Off Watch Neg; Outlook Revised To Stable Apr 06

  • Published: April 2006
  • Standard & Poors

Abstract
On April 21, 2006, Standard & Poor's Ratings Services affirmed its ratings on Public Storage Inc. (A-/Stable/--) and removed them from CreditWatch, where they were placed with negative implications March 8, 2006, following the company's definitive agreement to acquire Shurgard Storage Centers Inc. (BBB-/Watch Pos/--). The outlook is stable (see list). The ratings assigned to Shurgard are not affected at this time; however, we expect to raise the unsecured debt rating on Shurgard to 'A-' and to withdraw the corporate credit rating when the transaction closes. The outstanding Shurgard bonds will not be guaranteed by Public Storage, but will become an obligation of Public Storage through a wholly owned subsidiary. The rating actions affect roughly $2.72 billion of preferred stock....

Companies mentioned in this report are: Public Storage,Shurgard Storage Centers Inc.
Action: Affirmed
Action: Outlook: Stable
Action: Removed From CreditWatch

Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress READ MORE >

Public Storage,Shurgard Storage Centers Inc.

Format Properties
Electronic The report will be emailed to you.
Note: Product cover images may vary from those shown
More

RELATED PRODUCTS