Moody's upgrades Tanger

Moody's Investors Service said it upgraded Tanger Properties LP's senior unsecured Baa1 rating and Tanger Factory Outlet Centers, Inc.'s provisional Baa2 preferred shelf rating.

The outlook is stable.

Moody's said the upgrade reflects Tanger's success in integrating the five assets it acquired in 2011 totaling 1.5 million square feet and more than $450 million while maintaining strong credit profile and pursuing successful new developments and joint ventures.

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