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S&P upgrades Howard Hughes rating

S&P Global Ratings upgraded Howard Hughes Corp.'s corporate credit rating to B+ from B and revised the outlook to positive.

The rating agency said the diversified real estate developer has grown the proportion of its total earnings derived from its steadier operating assets segment to more than 30% in 2017.

The positive outlook takes into account the potential for the company's more stable operating assets segment to make up an even larger slice of overall earnings over the next 12 months.

This S&P Global Market Intelligence news article may contain information about credit ratings issued by S&P Global Ratings, a separately managed division of S&P Global. Descriptions in this news article were not prepared by S&P Global Ratings. The original S&P Global Ratings documents referred to in this news brief can be found here.