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S&P puts DCT Industrial Trust on positive watch
S&P said it placed all of its ratings on DCT Industrial Trust Inc. on CreditWatch with positive implications.
“The positive CreditWatch placement reflects our view that DCT Industrial will benefit from greater scale, which should promote enhanced cost efficiencies, than that of DCT on a stand-alone basis. In the transaction, Prologis Inc. will acquire DCT Industrial in an all-stock transaction where each share of DCT Industrial stock will be converted into 1.02x shares of newly issued Prologis stock, anticipated to close in the third quarter,” S&P said in a news release.
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