S&P affirms Prologis European

S&P said it affirmed its long- and short-term issuer credit ratings on Prologis European Logistics Fund FCP-FIS at A-/A-2.

The outlook is stable.

At the same time, the agency affirmed the issue rating on the fund’s senior unsecured debt, issued by Prologis International Funding II SA at A-.

S&P said the affirmation reflects a view of the robust performance of the fund after Prologis’ acquisition of assets.

“We continue to view positively PELF's €8.5 billion portfolio, composed of prime, recently-built logistics properties with an average building age of 10.7 years,” the agency said in a news release.

“These are well-located across robust markets such as Germany, the U.K. and France.”

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