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Moody's: Realty Income negative
Moody's Investors Service said it affirmed Realty Income Corp.'s Baa1 senior unsecured rating and revised the rating outlook to negative from stable.
Simultaneously, Moody's placed American Realty Capital Trust's Ba2 issuer rating on review for possible upgrade.
Moody's said these actions follow the announcement that Realty Income entered into a definitive agreement to acquire all of the outstanding shares of American Realty Capital Trust in a transaction valued at $2.9 billion that is expected to close during the fourth quarter of 2012 or early in the first quarter of 2013.
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