S&P: Goodman Group notes BBB

Standard & Poor's said it assigned its BBB issue credit rating to Goodman Group's $500 million senior unsecured note issue in the Rule 144A and Regulation S bond market.

According to S&P, proceeds from the notes will be used primarily to repay existing debt and to further extend the group's debt-maturity profile.

S&P said Goodman Group benefits from a solid Australian market position, an established presence in the U.K. and Europe and growing position in Asia. The group also has a stable rental income and track record of accessing third-party capital to expand and support its investment and funds-management activities, the agency said.

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