says a further benefit is the streamlined design of the latest cranes and hoists, which ensures that maintenance is non-invasive and both quick and simple to perform, thus minimising non-productive downtime.
The asset disposition opportunities provided by both the JDN
acquisition and the continued unwinding of DDR's non-core investments is enabling debt reduction, which Standard & Poor's expects will result in debt protection measures going forward that are more in line with rated REIT peers.
At the same time, the ratings on $235 million of various senior unsecured notes previously issued by JDN
are raised to 'BBB', the rating on $75 million of preferred stock is raised to 'BBB-', and all ratings are removed from CreditWatch, where they were placed with positive implications Oct.
1 billion acquisition of JDN
, through the assumption of $584 million of JDN
debt, $50 million in preferred stock, and the balance through a stock-for-stock exchange (each JDN
share for 0.
In fact the JDN
says its products have a European rating EX II 2 GD IIAT4/ II 3 GD II T4 as standard, providing safe operation within hazardous or potentially explosive atmospheres as can exist in spray painting operations.
Cleveland-based DDR owns a nationwide portfolio of 361 shopping centers while JDN
owns a portfolio of 99 shopping centers, located primarily in the southeastern U.
The CreditWatch placement follows the announcement that JDN
will merge with Developers Diversified Realty Corp.
says the current range of Profi TI air operated hoists it manufactures comprises 13 models covering individual lift capacities from 250kg to an impressive 100 tonnes.
The properties within the JDN
portfolio may also benefit from a broader access to other retailers through DDR's leasing efforts, and may modestly improve JDN
's 94% same-store occupancy level and pre-leasing efforts related to its development pipeline.
Air and hydraulically operated hoist products are also incorporated into the JDN
crane systems which have developed into a major market for the company.
owns and operates a portfolio of 100 retail shopping centers primarily anchored by value-oriented retailers, such as Lowe's (15.
Fitch Ratings has affirmed its 'BB' rating for JDN
Realty Corporation's outstanding $235 million of senior unsecured debt, its 'B+' rating for $50 million of outstanding preferred stock, and has removed the ratings from Rating Watch Negative.