S&P: Public Storage view stable

Standard & Poor's said it revised the outlook on Public Storage to stable from positive and affirmed the A- corporate credit rating.

The agency said the revision reflects expected softening demand for self-storage space in light of a potentially protracted economic downturn and the current turmoil in the debt and equity markets.

Ratings remain supported by one of the REIT sector's most conservative balance sheets and very strong coverage of all fixed obligations, as well as the REIT's common dividends, the agency noted.

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