Fitch: Centerpoint Properties on watch

Fitch Ratings said it placed Centerpoint Properties Trust on Rating Watch negative following the company's announcement that it is being acquired by CalEast Industrial Advisors LLC.

Previously, Centerpoint had a negative outlook, the agency noted, adding Centerpoint's senior unsecured debt is rated BBB and its preferred stock is rated BBB-.

The negative watch considers that the company will give up access to the public equity capital markets. In addition, the Watch status also considers that the leverage and funding strategy of the company post-transaction may be more aggressive than it has been historically.

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