Fitch: Prologis to positive

Fitch Ratings said it revised the outlook on Prologis, Inc. to positive from stable.

The agency also revised the outlook to positive from stable on its operating partnership Prologis, LP and its subsidiary Prologis Japan Finance YK.

Fitch also said it affirmed its Prologis Inc.'s issuer default rating at BBB- and $582 million preferred stock rating at BB, along with Prologis, LP's issuer default rating at BBB-, $1.75 billion global senior credit facility at BBB-, $4.7 billion senior unsecured notes at BBB- and $1.4 billion senior unsecured convertible notes at BBB-.

Prologis Japan Finance's ¥36.5 billion senior unsecured revolving credit facility also was affirmed at BBB-.

Fitch also assigned a BBB- rating to Prologis, LP's €487.5 million senior unsecured term loan with an initial maturity of Feb. 2, 2014.

The proceeds were used for general corporate purposes, including the repayment of ProLogis, LP's €157.5 million senior unsecured term loan and Prologis Japan Finance's ¥12.5 billion senior unsecured term loan.

The outlook revision reflects that the company's credit profile is migrating toward a BBB issuer default rating, Fitch said.

The positive also outlook considers improving fundamentals across the company's broad industrial real estate platform, the agency said.

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