S&P rates Liberty Property Trust notes BBB

Standard & Poor's said it assigned its BBB rating to Liberty Property Trust's recently issued $300 million senior notes due 2015.

At the same time, the company's BBB corporate credit and senior unsecured debt ratings and BBB- preferred stock rating were affirmed, impacting an additional $1.5 billion in senior notes. The company's outlook remains stable.

S&P said the ratings acknowledge Liberty's solid leasing activity, strong tenant roster and conservative financial position.

Proceeds from the recent issue will repay outstanding debt under the company's revolving credit facility.

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