S&P rates Prologis fund notes A-

S&P said it assigned its A- debt rating to Prologis Targeted U.S. Logistics Fund LP's (USLF) inaugural issuance of unsecured notes, which it will issue in multiple tranches.

“Our A- issuer credit rating on USLF continues to reflect its consistent operating results, solid growth prospects (primarily stemming from Prologis Inc.'s development pipeline), and strong credit protection measures. S&P Global Ratings-adjusted debt to EBITDA is expected to remain below 5x over the next two years,” S&P said in a statement.

The fund intends to use the proceeds to repay debt and for general corporate and working capital purposes.

The outlook is stable.

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