20.08.2015 20:46:00
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Excel Trust, L.P. -- Moody's downgrades Excel Trust's debt rating to Ba2 from Baa3, outlook revised to negative from developing
New York, August 20, 2015 -- Moody's Investors Service downgraded Excel Trust L.P.'s senior unsecured rating to Ba2 from Baa3, as recent capital restructuring transactions will materially weaken the REIT's credit profile including the leverage metrics and unencumbered asset ratio. The outlook revision reflects the potential for additional transactions that may increase leverage and/or secured leverage and the likelihood for a higher dividend payout as a privately owned entity.