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S&P rates Retail Properties notes BBB-
Standard & Poor’s said it assigned a BBB- rating to Retail Properties of America Inc.’s $250 million senior unsecured notes due 2025.
The proceeds will be used to repay existing debt due in 2015.
The outlook is stable, reflecting a view that the company will maintain credit metrics consistent with an intermediate financial risk profile while executing the company’s repositioning strategy, S&P said.
The agency said it expects the asset quality of the company’s portfolio fundamentals to improve as the group executes its repositioning strategy.
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