S&P upgrades DCT, notes to BBB

S&P said it raised its corporate credit rating on DCT Industrial Trust Inc. and its operating partnership, DCT Industrial Operating Partnership LP, to BBB from BBB-.

The outlook is stable.

The agency also raised the issue-level rating on the company's senior unsecured notes to BBB from BBB-.

"The upgrade acknowledges our favorable view of DCT's defensive portfolio positioning and strong recent operating performance," S&P credit analyst Sarah Sherman said in a news release.

"We also note the company's progress in improving its key credit metrics, as development projects continue to be funded in a leverage-neutral fashion and underlying fundamentals remain robust."

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