Moody's affirms AMB Property

Moody's Investors Service said it affirmed AMB Property Corp.'s Baa1 senior unsecured ratings.

The outlook is negative.

The rating reflects the company's well-diversified portfolio of high throughput distribution facilities in major infill and gateway locations across the globe, Moody's said.

The negative outlook reflects pressure in the REIT's credit metrics, earnings growth and profitability resulting from reductions in development sales gains and a fairly significant reliance on co-investment structures to drive earnings and fund growth, the agency said.

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