Moody's: Goodman notes Baa2

Moody's Investors Service said it assigned a Baa2 long-term rating to Goodman Funding Pty. Ltd.'s $500 million Rule 144A notes issuance.

The outlook is stable.

Moody's said the rating reflects (a) Goodman's solid market position and brand name as the largest owner of good-quality industrial properties in Australia with material interests in Continental Europe, UK and Hong Kong; (b) continued progress in creating a sustainable, long-term, prudent business platform; and (c) moderate financial leverage.

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