Research Update: Lend Lease Corp. 'BBB-/A-3' Ratings Affirmed; Outlook Stable Following Equity-Raising Plan Feb 10
- ID: 2153410
- February 2010
- Standard & Poors
Lend Lease announced plans for a fully underwritten A$806 million equity raising. We have affirmed our 'BBB-/A-3' ratings on Lend Lease. We have removed the rating from CreditWatch with negative implications, and assigned a stable outlook. On Feb. 25, 2010, Standard & Poor's Ratings Services affirmed its 'BBB-' long-term and 'A-3' short-term credit ratings on Lend Lease Corp. Ltd. (LLC) and LLC's related debt issues and programs following the Australian-based property group's proposed fully underwritten A$806 million equity raising. At the same time, the ratings were removed from CreditWatch with negative implications, where they were placed on Dec. 16, 2009. The outlook on the long-term rating is stable. LLC was placed on CreditWatch after the group secured new business transactions...
Companies mentioned in this report are:
- Lend Lease Corp. Ltd.
- Lend Lease Finance Ltd.
- Lend Lease (US) Capital Inc.
- Lend Lease Europe Finance PLC
Action: Outlook: Stable
Action: Removed From CreditWatch
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Product Type: Research Update
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