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Published on 11/15/2018 in the Prospect News Bank Loan Daily and Prospect News Investment Grade Daily.

S&P affirms Brixmor Property

S&P said it affirmed its BBB- issuer credit rating on Brixmor Property Group Inc. The outlook is stable.

At the same time, the agency affirmed the BBB- issue-level rating on the company's senior unsecured notes.

“The affirmation reflects our view that Brixmor's management team has demonstrated its ability to successfully execute on its stated goals by disposing of bottom tier, noncore assets in weaker demographic areas, improving the overall asset quality of the company's portfolio,” S&P said in a news release.

“It has been approximately two years since the current management team has taken over the company. Over that time, we believe they have made great progress improving both operating and credit metrics while also refocusing the company's cultural mindset.”


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