Moody's boosts Tanger

Moody's Investors Service said it upgraded Tanger Properties LP's senior unsecured ratings to Baa2.

The outlook is stable.

This action reflects Tanger's consistently strong performance through the recent recession coupled with and increasingly solid balance sheet and ample liquidity, Moody's said.

Owing to its solid operational performance and conservative balance sheet management, Tanger's debt protection measures have also strengthened significantly despite largely adverse conditions over the past two years in the economy as a whole, in the retail sector and in the capital markets, the agency said.

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