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S&P rates CBL, notes BBB-, preferreds BB
Standard & Poor's said it assigned its BBB- corporate credit rating to CBL & Associates Properties Inc.
The outlook is stable.
The agency also assigned its BBB- issue-level ratings to CBL & Associates LP’s outstanding senior unsecured notes and BB issue-level rating to its preferred shares.
"Our business risk assessment reflects CBL's regionally dominant market position, its historically well-occupied asset portfolio (despite some weakness due to recent tenant bankruptcies), and its broad scope of operations with good tenant and geographic diversification," S&P credit analyst Fernanda Hernandez said in a news release.
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