S&P Global Ratings affirmed its long-term corporate creditrating on Choice Properties Real EstateInvestment Trust and its issue-level rating on the company's seniorunsecured notes at BBB.
Concurrently, the rating agency assigned its stand-alone creditprofile on the company at "bbb," reflecting the REIT's "satisfactory"business-risk profile and "intermediate" financial-risk profile on a stand-alonebasis.
S&P noted that the company's long-term corporate credit ratingcontinues to match that of its parent, Loblaw Cos. Ltd., reflecting Choice's "corestrategic importance" to Loblaw's retail business.
The rating agency's "bbb" SACP rating on Choice, meanwhile, reflects S&P's view of the company'screditworthiness sans an "extraordinary influence" from Loblaw.
The rating agency's outlook on Choice is stable, which matchesits outlook on Loblaw.
S&P Global Ratingsand S&P Global Market Intelligence are owned by S&P Global Inc.