Fitch Upgrades Prologis' IDR To 'BBB'; Outlook Stable

(RTTNews.com) - Fitch Ratings said Thursday that it has upgraded Prologis, Inc.'s ( PLD ) Issuer Default Rating to 'BBB' from 'BBB-'.

The Rating Outlook has been revised to Stable from Positive.

Fitch said the upgrade of Prologis' IDR to 'BBB' centers on the company's material reduction in leverage, principally via the announced European joint venture with Norges Bank Investment Management and the successful recent initial public offering of Nippon Prologis REIT, Inc., a Japanese REIT

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