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10.02.2015 03:02:00
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Glimcher Realty Trust -- Moody's upgrades Glimcher's preferred stock rating to Ba1 from B1 following merger with Washington Prime; outlook is negative
New York, February 09, 2015 -- Moody's Investors Service has upgraded Glimcher Realty's ('Glimcher') preferred stock rating to Ba1 from B1 following Washington Prime Group's ('WPG', Issuer rating Baa2, Negative outlook) recently closed acquisition of Glimcher Realty. The negative outlook reflects expected pressure on WPG's leverage metrics following the Glimcher acquisition. This action concludes Moody's review of Glimcher Realty commenced on September 16, 2014.
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