Printer Friendly

Fitch Upgrs Spieker Properties' Debt/Preferred Following Merger.

Business Editors

NEW YORK--(BUSINESS WIRE)--July 10, 2001

Fitch has upgraded $1.9 billion of senior debt and $381 million of preferred stock issued by Spieker Properties, Inc. and subsidiaries following Spieker's merger with and into Equity Office Properties Trust earlier this month.

Through the merger, Spieker's senior unsecured notes have been assumed by EOP Operating Limited Partnership, and are upgraded from 'BBB' to 'BBB+'. Similarly, Spieker's preferred stock has been reissued by Equity Office Properties Trust, and is upgraded from 'BBB-' to 'BBB'. The Rating Outlook for EOP Operating Limited Partnership and Equity Office Properties Trust is Stable. As a result of the merger, the Fitch ratings for Spieker have been withdrawn.
COPYRIGHT 2001 Business Wire
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2001, Gale Group. All rights reserved. Gale Group is a Thomson Corporation Company.

Article Details
Printer friendly Cite/link Email Feedback
Publication:Business Wire
Date:Jul 10, 2001
Previous Article:Seattle Genetics Added to Russell 2000 and Russell 3000 Stock Indexes.
Next Article:Mike Piazza Named Baseball's Sexiest Single All-Star; National Poll Lets America Decide Who are the Hottest Hunks On the Diamond.

Related Articles
Fitch Affirms Spieker Properties' Debt/Preferred Stock Rtgs.
Fitch Affirms Rating For Mack-Cali Realty Corporation.
Fitch Affirms Kramont Realty Preferred Stock Rating.
Fitch Affs Security Cap Grp Following Acquisition Announcement.
Fitch Downgrades Taubman Centers' Preferred Stock Rating.
Fitch Rts Camden Property Trust $200MM Sr Note Offering 'BBB'.
Merger creates REIT powerhouse.
Fitch Affs Health Care Property Investors' Rtgs/Stble Rtg Outlk.

Terms of use | Copyright © 2018 Farlex, Inc. | Feedback | For webmasters