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S&P affirms Alexandria Real Estate ratings, revises outlook

S&P Global Ratings affirmed its BBB corporate credit and issue-level ratings on Alexandria Real Estate Equities Inc. and revised the outlook to positive from stable.

The rating agency said the action is based on the company's strong earnings for 2017 and future growth prospects on the back of its high-quality operating portfolio and projects under development, combined with prudent financial policy.

S&P expects the office-focused real estate investment trust to continue to outperform its rivals during 2018 on the back of long-term positive fundamentals underlying the industries to which it caters, including biotech and life science.

The positive outlook mirrors the rating agency's expectation that the company will remain committed to a prudent fiscal policy and will use recently raised equity proceeds to finance expansion resulting in its debt-to-EBITDA ratio falling to the low-to-mid 6.0x area over the next 12 to 18 months.

S&P Global Ratings and S&P Global Market Intelligence are owned by S&P Global Inc.