Fitch Eyes CarrAmerica

CarrAmerica, a Washington, D.C.-based real estate investment trust, has been placed on Rating Watch Negative by Fitch Ratings in response to the REIT's announcement that it is being acquired by The Blackstone Group.Fitch currently rates CarrAmerica's senior unsecured debt BBB and its preferred stock BBB-minus. The watchlist placement was attributed to the office REIT's announcement that "it will give up access to the public equity capital markets" and to Fitch's concern that the company's leverage and funding strategy "may be more aggressive" after the transaction than they have been in the past. Fitch can be found online at http://www.fitchratings.com.