S&P: AMB Property view negative

Standard & Poor's said it revised the outlook for AMB Property Corp. and AMB Property LP to negative from stable and affirmed its BBB corporate credit and senior unsecured debt ratings and BB+ preferred stock rating.

The outlook revision was prompted by decline in AMB's debt service coverage measures resulting from a reduction in asset sales and related gains, according to the agency.

Ratings remain supported by AMB's well-located, institutional-quality industrial properties, which are diversified across major global distribution markets, the agency said.

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