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S&P rates AMB Property notes BBB
Standard & Poor's said it assigned a BBB rating to the $325 million 6.3% series C medium-term notes due June 1, 2013, issued by AMB Property LP (BBB/stable).
Proceeds will be used for general corporate purposes, which may include property acquisitions, development and debt repayment.
Ratings acknowledge AMB's well-located, institutional-quality industrial properties, which are well diversified across major global distribution markets, the agency said.
AMB also remains well supported by a moderately leveraged financial profile, the agency added.
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