Moody's Says Regency's Outlook is Stable

Moody's Investors Service on Friday changed the rating outlook on shopping center developer and operator Regency Centers Corp. to "Stable" from "Positive."

Moody's affirmed its Baa2 senior unsecured rating and Baa3 preferred ratings for the company.

Moody's said the stable outlook is due to Regency's strong earnings performance and the "significant presence" of grocers and drug stores in its portfolio. So-called nondiscretionary retailers generally fare better in tough times because even penny-pinching shoppers still need food and prescriptions.

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