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S&P ups Weingarten Realty
S&P said it raised its ratings on Weingarten Realty Investors and its senior unsecured debt to BBB+ from BBB and removed all its ratings on the company from CreditWatch, where it placed them with positive implications on April 15.
The upgrade follows higher-rated Kimco Realty Corp.’s acquisition of Weingarten, the agency said.
“Subsequently, we withdrew our issuer credit rating on Weingarten Realty Investors because Kimco Realty Corp. has assumed its senior unsecured notes. At the time of the withdrawal, our outlook on the company was stable,” S&P said in a press release.
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