01:19 PM EDT, 05/30/2024 (MT Newswires) -- S&P Global Ratings said Wednesday that it has upgraded its long-term issuer credit rating on Choice Properties Real Estate Investment Trust (CHP-UN.TO) to "BBB+" from "BBB".

The stand-alone credit profile on Choice remains unchanged at "bbb".

The rating agency also raised the issue-level rating on the REIT's unsecured debt to "BBB+" from "BBB".

"The stable outlook on Choice reflects the outlook on GWL. We expect that our rating on Choice will move in tandem with that on GWL, considering our view that the REIT is a core subsidiary of GWL," the agency noted.

Price: 12.65, Change: +0.11, Percent Change: +0.84