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Fitch: Simon Property unaffected
Fitch Ratings said the ratings of Simon Property Group, Inc. and Simon Property Group, LP are unaffected by the proposal submitted by Simon and Farallon Capital Management LLC to acquire Mills Corp. for $1.56 billion plus assumed debt. While the proposed transaction would likely increase Simon's pro rata leverage, the agency believes that Simon will remain adequately capitalized for its current rating levels and noted that Simon has a track record of integrating sizable acquisitions.
Fitch also said it is comfortable that the transaction would generate strategic benefits for the company by further defining it as a dominant retail landlord.
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