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Article: DCR Upgrades Equity Residential Properties Trust Ratings; $2.2 Billion of Debt/Preferred Stock Affected
- Article from:
- PR Newswire
- Article date:
- December 26, 1997
CopyrightCOPYRIGHT 1997 PR Newswire Association LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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NEW YORK, Dec. 26 /PRNewswire/ -- Duff & Phelps Credit Rating Co. (DCR) has upgraded the senior debt and preferred stock ratings of Equity Residential Properties Trust (NYSE: EQR) and its subsidiaries and removed these ratings from Rating Watch. Senior unsecured debt ratings for ERP Operating Limited Partnership (ERP), the principal operating subsidiary of EQR, are raised from 'BBB+' (Triple-B-Plus) to 'A-' (Single-A-Minus). DCR has also raised its ratings for EQR's cumulative preferred stock from 'BBB' (Triple-B) to 'BBB+' (Triple-B-Plus). DCR has also assigned its 'A-' (Single-A-Minus) rating to the senior unsecured notes of Evans Withycombe Residential, L.P., ...