Moody's: Westfield view to stable

Moody's Investors Service said it affirmed the A2 issuer rating for Westfield Group, the A2/provisional A2 senior unsecured ratings of its supported subsidiaries and the group's P-1 short term rating.

The outlook on the A2 rating was revised to stable from negative.

"The change of outlook to stable reflects our expectation for a gradual, but slow, improvement in the U.S. operating environment over the next 12-18 months, and our view that Westfield will continue to benefit from the stability of its high quality Australian assets, whose contribution to total assets has increased following the recent sale of some of its U.S. assets," Moody's vice president and senior analyst Maurice O'Connell said in a news release.

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