Fitch affirms Taubman

Fitch Ratings said it affirmed the following ratings on Taubman Centers, Inc.: issuer default rating at BB and $187 million of outstanding preferred stock at BB-.

Fitch said it has also affirmed the BB issuer default rating on The Taubman Realty Group Ltd. Partnership, the operating partnership of Taubman Centers.

The outlook is stable.

The agency noted that the ratings reflect Taubman's high quality and geographically diversified portfolio of regional shopping centers and malls located across 10 states.

The ratings are further supported by the company's solid coverage ratios, Fitch said, adding that total interest and fixed-charge coverage ratios were 2.6x and 2.1x, respectively, for the 12 months ending Sept. 30.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.