The owners of LNR Property have agreed to sell the company to Starwood Property Trust and an affiliated private equity fund. We are placing our issuer and issue-level ratings on LNR on CreditWatch with developing implications. When the sale closes, we will resolve the CreditWatch on our issuer credit rating on LNR based on our assessment of its business and financial positions under Starwood's ownership. We will likely withdraw our issue-level ratings on LNR at that time since we expect that debt to be repaid as part of the transaction. On Jan. 24, 2013, Standard & Poor's Ratings Services placed its 'BB-' issuer credit rating on LNR Property LLC on CreditWatch with developing implications. We also placed our 'BB+' ratings...
Companies mentioned in this report are:
- LNR Property LLC
Action: On CreditWatch:Developing
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