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Moody's lifts Shurgard, Public Storage outlook to positive
Moody's Investors Service said it affirmed the A3 senior rating of Shurgard Storage Centers, Inc., a wholly owned subsidiary of Public Storage.
The agency also said it affirmed the Baa1 preferred stock rating of Public Storage.
The outlook was revised to positive.
The positive outlook reflects an expectation that the REIT's excellent franchise and operating platform will continue to drive solid core earnings growth, improving upon its already strong credit metrics, Moody's said.
The ratings continue to reflect its conservative financial strategy and limited liquidity risk, the agency said.
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