S&P rates American Realty notes BBB-

Standard & Poor's said it assigned its BBB- corporate credit rating to American Realty Capital Properties Inc. and its operating partnership, Clark Acquisition LLC, which following the Cole merger will become ARC Operating Partnership LP (collectively, ARCP).

The outlook is stable.

The agency also assigned its BBB- issue-level rating to ARCP's proposed roughly $1.25 billion senior unsecured notes.

"The ratings on ARCP reflect our assessment of the company's 'satisfactory' business risk profile and 'significant' financial risk profile," S&P credit analyst Eugene Nusinzon said in a news release.

The assessment of a satisfactory business risk profile is supported by the good quality and diversification of ARCP's net lease portfolio and S&P's view of the REIT industry's "low" risk and "very low" country risk.

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