Fitch rates Simon notes A

Fitch Ratings said it assigned an A rating to the €750 million 1.375% senior unsecured notes due 2022 issued by Simon International Finance SCA, a subsidiary of Simon Property Group, Inc.

The notes will be fully and unconditionally guaranteed by Simon Property Group, LP, the operating partnership of Simon Property Group, Inc.

The proceeds will be used to reduce the company’s existing euro-denominated borrowings and for general corporate purposes.

The company’s long-term issuer default rating of A reflects the strong quality of its retail real estate portfolio, significant scale and market-leading access to capital, Fitch said.

Other credit strengths include the company’s good liquidity and financial flexibility, the agency said.

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