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Bulletin: Public Storage Ratings Not Affected By Possible Sale Of Stake In European Platform Jan 08
Standard & Poors, Jan 2008
Abstract
NEW YORK (Standard & Poor's) Jan. 10, 2008--Standard & Poor's Ratings Services today said that its ratings and outlook on Public Storage Inc. (A-/Stable/--) would not be affected by the company's recently announced pending sale of a 51% interest in Shurgard Europe. Although Public Storage has not entered into a binding agreement, the company has agreed to sell a majority stake in its European platform to a private investor in a transaction that management expects to close during first-quarter 2008. The pricing of the transaction and Public Storage's strategy to reduce its European holdings is consistent with Shurgard Europe's public share offering last year, which was not completed. While the ultimate financial impact of the pending transaction on Public Storage...
Companies mentioned in this report are: Public Storage
Action: Bulletin
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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