Moody’s lifts DCT Industrial

Moody’s Investors Service said it upgraded the senior unsecured rating of DCT Industrial Operating Partnership LP to A3 from Baa2 following its merger with Prologis, LP.

The issuer rating for DCT Industrial Trust Inc. was withdrawn.

The outlook is stable.

Prologis is the surviving entity and will assume all of DCT Industrial's senior unsecured notes.

The action concludes Moody's review for upgrade that began on May 2.

“The upgrade of DCT Industrial's senior unsecured rating to A3 reflects the significant improvement to the REIT's credit profile following the completion of its merger with Prologis,” the agency said in a news release.

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