S&P: General Growth stable

Standard & Poor's said it affirmed its unsolicited BB corporate credit rating on General Growth Properties Inc. and revised the outlook to stable from positive.

The agency said it also affirmed its unsolicited BB+ issue-level rating and 2 recovery rating on the senior unsecured notes of General Growth's subsidiary, Rouse Co. LP.

"Our unsolicited ratings on General Growth Properties Inc. reflect the company's satisfactory business risk position as a major U.S.-based mall owner, its fair management and governance profile and what we view as its aggressive financial risk profile," said S&P credit analyst Scott Sprinzen in a news release.

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