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REIT Wins Investment Grade

Liberty Property Trust's plans to issue senior unsecured debt received a boost last week when Moody's upgraded the REIT's credit rating to investment grade.

The agency bumped up the Malvern, Pa., company's senior unsecured debt shelf two notches, to "Baa3." Liberty had been eager to shed the unsolicited "Ba2" rating Moody's assigned in February 1996 to its prospective unsecured senior debt issued under a prior shelf registration.

Liberty filed an $875 million universal shelf registration with the SEC in February that includes a $300 million debt component. The deb

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