Moody's may lift ProLogis

Moody's Investors Service said it has placed on review for possible upgrade the Baa3 long-term issuer rating of ProLogis European Properties and the backed senior unsecured debt rating of its wholly owned and guaranteed subsidiary, Prologis International Funding SA.

The change to review for upgrade was prompted by ProLogis' announcement that a majority of its unitholders resolved to wind up the fund at the annual meeting, the agency noted.

In addition, Prologis, its controlling unitholder with 99.5% of the units, will assume responsibility for all ProLogis European's liabilities.

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