S&P affirms AMB

Standard & Poor's said it affirmed its BBB corporate credit and senior unsecured debt ratings and its BBB- preferred stock rating on AMB Property Corp. and AMB Property LP.

The outlook is stable.

The agency said that the ratings acknowledge AMB's well-located, institutional-quality industrial properties, which are well diversified across major global distribution markets.

The company has successfully executed its global expansion strategy to date and the resulting greater geographic diversification should provide a real benefit in the current cycle, as strengths in non-U.S markets are likely to offset exposure to the slowdown in the United States, S&P noted.

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