Moody’s affirms Simon Property

Moody's Investors Service said it affirmed Simon Property Group, LP's A2 senior unsecured debt rating.

The agency also affirmed the short-term debt rating at Prime-1 and Simon Property Group, Inc.'s preferred stock shelf rating at provisional A3.

The outlook is stable.

Moody’s said the action reflects the company’s excellent property portfolio that has generated stable cash flow through market cycles, its strong liquidity position, moderate leverage and experienced management team.

“Simon's leverage metrics, based on market value estimates of the asset portfolio, are solid for the rating level,” the agency said in a news release.

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