CBL Achieves Investment Grade Rating From Moody’s Investors Service

Monday, May 13, 2013

CBL & Associates Properties, Inc. (NYSE: CBL), on Monday announced that the company was assigned a Baa3 issuer rating from Moody’s Investors Service.

Moody’s indicated in their announcement that the Baa3 issuer rating reflects the strong financial performance and stable cash flows afforded by CBL’s market-dominant mall portfolio with consistently high occupancy rates. In addition, Moody’s noted CBL’s healthy credit profile with a high EBITDA margin and solid fixed charge coverage ratio. Further, according to Moody’s, CBL has demonstrated its commitment to growing the unencumbered net operating income (“NOI”) and believes that continuing this strategy would lead to further enhancement of CBL’s credit profile.

“We are pleased that the strength and flexibility of our balance sheet as well as the value of our market-dominant strategy was recognized by Moody’s with the assignment of an investment grade rating; an important milestone for CBL,” said Farzana Mitchell, CBL executive vice president and chief financial officer. “We believe a balanced financing structure, including full access to both the secured and unsecured credit markets, will allow CBL to fuel our ongoing growth using the most attractive sources of capital and further reducing our cost of funds. We look forward to building on this significant accomplishment.”

More information regarding CBL’s rating assignment can be found in the Moody’s Investors Service press release on its website at www.moodys.com.



New Hamilton County Businesses

Here are the new business licenses from the County Clerk's office: AB INDUSTRIAL 7226 TENDERFOOT TRAIL OOLTEWAH, TN 37363 ADVANCE CLEANING SERVICE 4000 LANA LANE APT  C CHATTANOOGA, TN 37416 APPAREL INK 3661 BRAINERD RD STE 303 CHATTANOOGA, TN 37411 BEZALEL TECHNOLOGIES INC 12 S SWEETBRIAR AVE CHATTANOOGA, TN 37411 BP SOLUTIONS 1403 ... (click for more)

MAU Hosts Hiring Event This Monday

MAU is hosting a hiring event this  Monday, from  9 a.m.-2 p.m.  to fill job openings for  automotive assemblers  in Chattanooga.  The job fair will take place at MAU Workforce Solutions, located at 6150 Shallowford Road, Suite 104 in Chattanooga.  Qualified candidates must submit to drug screen and background check. Position ... (click for more)

President Of Realtor Association And Family Were Starting On Vacation When They Were Caught In Deadly Wreck

The president of the Greater Chattanooga Association of Realtors was starting out on vacation with his wife, Tina, and their two children when they got caught up in last Thursday’s deadly crash along I-75.   Six people were killed and six others injured.   The Close family, including children ages six and 12, was able to escape injury.   They ... (click for more)

Athens, Tn., Doctor, Wife, Daughter Die In Crash Of Small Plane That Hit House Near Boston

An Athens,Tn., physician, his wife and college-age daughter died Sunday evening in the crash of a small plane that struck a house 30 miles southwest of Boston on Sunday evening. The victims were Dr. Joseph Rick Kalister, the emergency room director at Starr Regional Medical Center's Athens campus, wife, Betty, and their daughter. The doctor and his wife were en route for a ... (click for more)

Six Commissioners Owe Us An Explanation - And Response (2)

Two-thirds of the Hamilton County Commission owe us an explanation as to why they feel it appropriate to take $900,000 of our money out of savings to spend on whatever suits their fancy, oversight be darned.  Those six commissioners are: Randy Fairbanks (D-1), Jim Fields (D-2), Warren Mackey (D-4), Sabrena Turner-Smedley (D-7), Tim Boyd (D-8), and Chester Bankston (D-9).  ... (click for more)

Roy Exum: Tonight, Take A Second

Peter Whibberley, known globally as “The Time Lord,” will freely tell anyone, “There are consequences of tinkering with time,” but tinker we must because the world – planet Earth -- is spinning slower. So tonight at 7:59:60 p.m. EDT, the Senior Research Scientist at Britain’s National Physical Laboratory will add an extra second to the hour – and our day -- before it becomes 8:00 ... (click for more)