S&P ups General Growth to positive

Standard & Poor's said it revised the outlooks on General Growth Properties Inc. and on the company's subsidiary Rouse Co. LP to positive from stable and affirmed the BB corporate credit ratings on the two companies.

S&P also affirmed the BB+ credit rating and 2 recovery rating on Rouse's $1.65 billion senior unsecured debt issues.

The outlook revision reflects actions General Growth is pursuing to address competitive shortcomings and reduce financial risk and the possibility that S&P could upgrade the company if there is demonstrated improvement in key operating metrics, the agency said.

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