| Add to balance / Manage account | User: | Log out |
| Prospect News home > News index > List of issuers V > Headlines for Vornado Realty Trust > News item |
S&P rates Vornado notes BBB
Standard & Poor's said it assigned a BBB rating to Vornado Realty LP's $400 million 5% senior notes due 2022.
Vornado Realty LP is an operating subsidiary of Vornado Realty Trust.
The proceeds will be used for general business purposes, which may include repayment or repurchase of debt and acquisitions.
The ratings reflect the company's satisfactory business risk profile as one of the largest equity real estate investment trusts with strong positions in the New York City and Washington, D.C., metro office markets, S&P said.
The ratings also consider the company's intermediate financial risk profile with strengthened coverage metrics and moderate financial leverage, the agency said.
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.