American Assets to make high-grade debt ‘core component’ of financing

New York, July 6 – American Assets Trust, Inc. said that it plans to make the investment-grade unsecured debt market “a core component of our future financing needs.”

The company made the announcement in a news release after obtaining high-grade credit ratings from Fitch Ratings, Moody’s Investors Service and Standard & Poor’s Ratings Services. American Assets is rated BBB, Baa3 and BBB-, respectively, by the agencies.

“Since our IPO, it has been one of our objectives to obtain investment grade credit ratings from each of Fitch, Moody's and Standard & Poor's, which we proudly believe are a reflection of the quality of our portfolio, the strength of our balance sheet and our operational and investment discipline,” executive vice president and chief financial officer Robert F. Barton said in the news release.

American Assets is a San Diego-based real estate investment trust focused on retail, office and residential properties in what it considers to be the most dynamic, high barrier-to-entry markets, primarily in Southern California, Northern California, Oregon, Washington and Hawaii.

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