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LNR Property LLC 'BB-' Rating Placed On CreditWatch Developing After Owners Agree To Sell The Company Jan 13 Product Image

LNR Property LLC 'BB-' Rating Placed On CreditWatch Developing After Owners Agree To Sell The Company Jan 13

  • ID: 2384414
  • January 2013
  • Standard & Poors

Abstract
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

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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