Tanger Inc. has demonstrated its commitment to its financial policies by maintaining low leverage while expanding its asset base. At the same time, the company?s operating performance remains sound, supported by healthy retail fundamentals. S&P Global Ratings revised its outlook on Tanger to positive from stable. At the same time, we affirmed our 'BBB-' issuer credit rating and our 'BBB-' issue-level ratings on the company's debt. The positive outlook incorporates our expectation that Tanger's operating performance will remain stable despite some inflationary pressure to slow discretionary spending. We project the company will maintain S&P Global Ratings-adjusted debt to EBITDA in the low 5x while funding its growth in a leverage-neutral manner. At Dec. 31, 2024, Tanger?s S&P Global Ratings-adjusted debt
