S&P rates AMB Property notes BBB

Standard & Poor's said it assigned a BBB rating to the $325 million 6.3% series C medium-term notes due June 1, 2013, issued by AMB Property LP (BBB/stable).

Proceeds will be used for general corporate purposes, which may include property acquisitions, development and debt repayment.

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

AMB also remains well supported by a moderately leveraged financial profile, the agency added.

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