Interproperties Gets Ba3

Moody’s has assigned a Ba3 rating to Interproperties’ proposed $185m 2023 RegS-only bond, with a stable outlook. Interproperties, the real estate unit of Peru’s Intergroup, is meeting investors in Chile and Peru this week. The notes amortize in equal payments semiannually beginning March 30, 2015. The notes will be fully secured by the unit’s commercial real-estate assets operated by Real Plaza, and proceeds are to fund Real Plaza’s development of new products. IMTrust is managing the sale.