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S&P puts Westfield on watch
Standard & Poor's said it placed the A- long-term credit ratings on Westfield Group on CreditWatch with negative implications and affirmed its A-2 short-term ratings.
The watch follows the company's plans to divest 50% of the majority of its Australian and New Zealand shopping center portfolio into an independently owned vehicle, known as Westfield Retail Trust, according to the agency.
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