Moody's downgrades LEG's ratings to Baa2; changes outlook to stable from negative
Moody's Investors Service has today downgraded LEG Immobilien SE's ("LEG" or "the company") long-term issuer and senior unsecured ratings to Baa2 from Baa1 as well as LEG's senior unsecured debt issuance programme rating to (P)Baa2 from (P)Baa1. Consequently Moody's affirmed its P-2 short term issue...Leg Immobilien is a real estate company engaged in the management of its residential property portfolio as well as the acquisition of housing portfolios. As of Dec 31 2013, Co.'s portfolio comprised 94,311 residential units, 1,031 commercial units and 22,903 garages and parking spaces. These assets are distributed across around 160 locations, most of which are in North Rhine-Westphalia, Germany.
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