OVERVIEW Tanger Factory Outlet Centers Inc.'s coverage and leverage metrics have improved following recent equity-raising activity. Operating performance for the company's nearly fully unencumbered portfolio remains healthy. We affirmed our 'BBB' corporate credit rating and all other ratings on the company. Our stable outlook reflects our belief that Tanger's credit metrics are well-positioned to support some fluctuation in operating performance arising from weak retail conditions. NEW YORK (Standard&Poor's) Oct. 15, 2009--Standard&Poor's Ratings Services today affirmed its 'BBB' corporate credit rating and all other ratings on Tanger Factory Outlet Centers Inc. (Tanger). The affirmations affect $257 million in senior notes. The outlook is stable. "Our ratings acknowledge Tanger's improved credit metrics following recent equity-raising activity, along with
