S&P upgrades Prologis

Standard & Poor's said it raised its corporate credit rating on Prologis Inc., Prologis LP and Prologis to BBB from BBB-. The outlook is stable.

At the same time, the agency raised its senior unsecured ratings on the company's debt to BBB from BBB- and its ratings on the company's preferred stock to BB+ from BB.

"The upgrade acknowledges that we view Prologis as having an improved 'strong' business risk profile that is marked by subsector-leading geographic and tenant diversity, which are key credit strengths," said credit analyst Elizabeth Campbell in a news release.

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