(Reuters) - "The CreditWatch placements reflect the uncertainty
surrounding the ultimate operating profile and financing of
this transaction, as well as the potential that Archstone's
balance sheet will become more highly leveraged after the
merger," S&P said in a statement.
"It is unclear whether the rated senior notes will remain
outstanding in the longer term or if the partnership will
pursue a tender offer," S&P said. "We believe the partnership
will not want to operate under the restrictive covenants and
will most likely pursue a tender offer for the outstanding
senior notes."
Read more at Reuters.com Bonds News
surrounding the ultimate operating profile and financing of
this transaction, as well as the potential that Archstone's
balance sheet will become more highly leveraged after the
merger," S&P said in a statement.
"It is unclear whether the rated senior notes will remain
outstanding in the longer term or if the partnership will
pursue a tender offer," S&P said. "We believe the partnership
will not want to operate under the restrictive covenants and
will most likely pursue a tender offer for the outstanding
senior notes."
Read more at Reuters.com Bonds News
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