S&P: DDR view to positive

Standard & Poor's said it revised the outlook on DDR Corp. to positive from stable and affirmed its BB corporate credit rating.

The agency also said it affirmed the BB+ rating on the company's senior unsecured notes and maintained a 2 recovery rating on the notes.

S&P said it revised the outlook to reflect continued improvement in the company's operating performance and execution of capital transactions that further reduce leverage and extend debt tenor.

Leasing remained strong in the fourth quarter that ended Dec. 31, 2011, as both occupancy and rental rates increased and same-store net operating income grew for the seventh consecutive quarter, the agency said.

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