http://biz.yahoo.com/ap/081205/regency_ratings.html?.v=1 REG's latest price is $45.03
Moody's says Regency Centers outlook is stable Friday December 5, 4:36 pm ET By The Associated Press Moody's moves Regency Centers outlook to 'Stable,' cites nondiscretionary tenants
Moody's Investors Service on Friday changed the rating outlook on shopping center developer and operator Regency Centers Corp. to "Stable" from "Positive." Moody's affirmed its Baa2 senior unsecured rating and Baa3 preferred ratings for the company.
Moody's said the stable outlook is due to Regency's strong earnings performance and the "significant presence" of grocers and drug stores in its portfolio. So-called nondiscretionary retailers generally fare better in tough times because even penny-pinching shoppers still need food and prescriptions.
Moody's also cited Regency's access to cash.
"The large development pipeline is a concern, though we expect new construction activity to moderate noticeably in the coming quarters," the ratings agency wrote.
Regency shares rose $3.10, or 9.3 percent, to close at $36.35 on Friday.
MCW Price at posting:
21.5¢ Sentiment: LT Buy Disclosure: Held
