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Prospect News home > News index > List of issuers P > Headlines for Public Storage, Inc. > News item |
S&P rates Public Storage preferreds BBB+
Standard & Poor's said it assigned a BBB+ rating to Public Storage's $325 million series Q 6.5% cumulative preferred shares, which it expects to issue on or near April 14.
The proceeds will be used from the issuance to redeem most of its outstanding $518 million series I 7.25% cumulative preferred shares, which the REIT can redeem after May 3, the agency said.
The company has a corporate credit rating of A with a stable outlook, S&P said.
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