S&P affirms BRE

Standard & Poor's said it affirmed its ratings on BRE Properties Inc. and removed them from Creditwatch, where they were placed with negative implications on March 6.

The outlook is negative.

"The rating actions affect roughly $1.7 billion in debt and preferred securities and followed a review of the company's business and financial plan, as well as a reassessment of its own stress scenario, in light of deteriorating economic conditions and continued constrained finance markets," said credit analyst George Skoufis.

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