DCT Industrial's (DCT) Rating Raised By S&P: Time To Buy?
Zacks Investment Research | Nov 29, 2016 05:21AM ET
Ushering in good news for its shareholders, DCT Industrial Trust (NYSE:DCT) declared that S&P Global Ratings has upgraded its corporate credit rating and the issue-level rating on the company’s senior unsecured notes to BBB from BBB-. The outlook is stable.
The rating agency acknowledged DCT Industrial’s solid operating performance, improvement in credit protection initiatives and strengthening of asset quality.
Notably, the rating upgrade enhances its creditworthiness in the market and is likely to boost investors’ confidence in the stock. In fact, such moves provide companies an opportunity to enjoy reduced costs on debts and better access to capital. DCT also has a Baa2 rating from Moody’s Investors Service.
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