Fitch: AMB Property view negative

Fitch Ratings said it affirmed the BBB+ issuer default and outstanding debt ratings for AMB Property Corp. and AMB Property, LP.

The outlook was revised to negative from stable.

Fitch said the affirmations are supported by AMB's well-diversified portfolio of global industrial properties with assets in 49 markets in 15 countries in the Americas, Europe and Asia, as well as the company's strong management team, granular tenant roster and laddered lease expiration schedule.

The affirmations also reflect the company's large pool of unencumbered assets, the agency said.

The BBB+ rating consider the company's access to capital, bolstered liquidity position and sizable capacity under its two U.S.-based credit facilities, the agency noted.

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