Ramco-Gershenson Extends $150 Million Credit Revolver

Wed. October 08, 2008; Posted: 11:49 PM

(financialwire.net via COMTEX) -- RPT | Quote | Chart | News | PowerRating -- October 9, 2008 (FinancialWire) -- Ramco-Gershenson Properties Trust (NYSE: RPT | Quote | Chart | News | PowerRating) (Current Market Cap: US$312.21 Mil.) said that it has extended its $150 million unsecured revolving credit facility through December of 2009. The company's bank group is led by KeyBank National Association (NYSE: KEY).

According to a statement Ramco-Gershenson, at its option, can further extend this facility through 2010, which is "coterminous with the company's $100 million unsecured term loan credit facility."

Pricing of the facility is unchanged at LIBOR plus 115 to 150 basis points depending on the company's overall leverage.

Farmington Hills, Michigan-based Ramco-Gershenson Properties Trust is a real estate investment trust that owns, develops, acquires, manages and leases community shopping centers, regional malls and single tenant retail properties in the U.S.

The trust owns interests in 89 shopping centers totaling around twenty million square feet of gross leasable area in Michigan, Florida, Georgia, Ohio, Wisconsin, Tennessee, Indiana, New Jersey, Virginia, South Carolina, North Carolina, Maryland and Illinois.

FinancialWire" is a fully independent, proprietary news wire service of Investrend Information (a division of Investrend Communications, Inc.). FinancialWire" news is written by professional journalists, dedicated to pure journalistic standards. FinancialWire" does not receive or accept any compensation from any individual or subject company (or representative thereof) for its news or opinions. All FinancialWire" news is available at http://www.financialwire.net . Please address any inquiries to feedback@financialwire.net .

Free annual reports for companies mentioned in the news are available at http://investrend.ar.wilink.com/?level=279 .

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For full details on Keycorp (KEY) click here. Keycorp (KEY) has Short Term PowerRatings of 6. Details on Keycorp (KEY) Short Term PowerRatings is available at This Link.

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