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.



Chattanooga Chamber Calendar Of Events Feb. 27-March 3

TUES/28 LCAA Candidate Forum 7:30-9 a.m. EPB Building: MLK Boulevard The Leadership Chattanooga Alumni Association hosts a meet and greet with candidates for City Council and Chattanooga Mayor.   TUES/28 East Brainerd Chamber Council Meeting 11:30a-1 p.m. Car Barn: 6721 Heritage Business Ct. Speaker: James McKissic $12   TUES/28 Action/Priority Matrix: ... (click for more)

Attorney Virgil Duane Parker Goes On Disability Status

 By Order of the Tennessee Supreme Court entered February 23, 2017, the law license of Hamilton County attorney Virgil Duane Parker was transferred to disability inactive status pursuant to Section 27.3 of Tennessee Supreme Court Rule 9. Mr. Parker cannot practice law while on disability inactive status. He may return to the practice of law after reinstatement by the Tennessee ... (click for more)

St. Elmo Woman, 45, Dies At County Workhouse On Wednesday Night; Investigation Underway

An inmate died at the county workhouse at Silverdale on Wednesday night, and an investigation is underway.   She was identified as  Dana Shunice Palmer, 45, of St. Elmo.   Ms. Palmer was booked into the Hamilton County Jail from the Chattanooga Police Department on Feb. 14 on a public Intoxication charge. She was transferred from the jail to CoreCivic ... (click for more)

Shannon Whitfield Raising Rates At Money-Losing Walker County Landfill; Moratorium Placed On Fracking, Deep Well Drilling, Tiny Homes

New Walker County Sole Commissioner Shannon Whitfield is raising rates at the money-losing Walker County Landfill. The higher charges go into effect on March 1. Mr. Whitfield, during his campaign, said the landfill had been losing about $500,000 per year for many years. He said other area landfills were making a profit, but Walker County was having to subsidize its landfill. ... (click for more)

CVB Should Share Financials With The Home Folks

The recent debate over the Convention and Visitor's Bureau's funding and budget has gotten ugly. A Hamilton County commissioner has asked questions and made comments about the CVB. The director of the CVB has organized a campaign to dismiss the commissioner's questions and comments. The children on the playground are choosing sides and nothing useful seems to be happening. It's ... (click for more)

Roy Exum: Ed Chief ‘Embarrassed’

At the start of the school year in September, Tennessee’s Commissioner of Education Dr. Candice McQueen held an “educational summit” with state legislators from embattled Hamilton County. The entire “summit” took a prescribed 90 minutes and was such a dog-and-pony show her strongest statement was, "Create your plan around the right vision, have some metrics and align to the right ... (click for more)