Fitch lifts Prologis

Fitch Ratings said it upgraded Prologis, Inc. to A- from BBB+.

The outlook was revised to stable from positive.

The agency said the upgrade reflects Fitch's expectation that the company’s pro rata leverage will sustain below 5.5x, a level consistent with the A- rating.

Fitch said that the company should have sufficient cushion to engage in moderate debt-funded acquisitions or transactions and still remain below the agency’s 5.5x negative rating sensitivity, although Fitch said it does not expect this activity.

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