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Moody's may cut ProLogis
Moody's Investors Service said it placed ProLogis' senior unsecured debt at Baa2 and preferred stock at Baa3 under review for possible downgrade.
The review reflects the considerable decline in the REIT's cash flow and earnings due to lower rental rates in a weak economy, Moody's said.
But, ProLogis has made substantial progress addressing the liquidity and development issues, the agency said, and has successfully executed its outlined plan.
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