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Moody’s might raise Westfield
Moody's Investors Service said it placed Westfield Corp.’s A3 issuer rating on review for upgrade following the announcement that it will likely be acquired by A2 rated Unibail-Rodamco SE.
In the same action, the agency placed the A3 senior unsecured debt ratings of WEA Finance LLC and WFD Trust and the P-2 short-term issuer rating of Westfield on review for upgrade.
The transaction is expected to close in the first half of 2018.
Moody’s said the review reflects the strength and geographic diversity of the combined Unibail and Westfield portfolios in the European and U.S. retail markets.
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