Moody's upgrades Liberty Property

Moody's Investors Service said it upgraded the senior unsecured rating of Liberty Property LP to A3 from Baa1 following its merger with Prologis, LP on Feb. 4. Prologis is rated A3. The senior unsecured shelf for Liberty was withdrawn. The outlook is stable.

Prologis is the surviving entity and will assume all of Liberty's senior unsecured notes. This rating action concludes Moody's review for upgrade that began on Oct. 30 after the announcement the REITs had reached a definitive agreement to merge.

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