Moody's cuts Rouse, Price Development, General Growth

Moody's Investors Service said it lowered senior unsecured ratings of The Rouse Co. and Price Development Co. LP to Ba1 from Baa3. The outlook is stable.

Moody's also lowered the unsecured debt shelf rating of General Growth Properties to prospective Ba2 from prospective Ba1 following the announcement that General Growth Properties completed its acquisition of The Rouse Co.

Moody's cut Rouse's senior debt to Ba1 from Baa3, senior debt shelf to prospective Ba1 from prospective Baa3 and preferred stock shelf to prospective Ba2 from prospective Ba1, Price Development's senior debt to Ba1 from Baa3 and GGP Properties LP's senior debt shelf to prospective Ba2 from prospective Ba1.

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