LNR Property LLC 'BB-' Rating Placed On CreditWatch Developing After Owners Agree To Sell The Company Jan 13
- ID: 2384414
- January 2013
- Standard & Poors
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. NEW YORK (Standard & Poor's) Jan. 24, 2013--Standard & Poor's Ratings Services today said it placed its 'BB-' issuer credit rating on LNR Property LLC on CreditWatch with developing implications....
Companies mentioned in this report are:
- LNR Property LLC
Action: On CreditWatch:Developing
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Research type: News
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