NEW YORK (Standard&Poor's) Oct. 23, 2008--Standard&Poor's Ratings Services today raised its corporate credit rating on Tanger Factory Outlet Centers Inc. and Tanger Properties L.P. (Tanger) to 'BBB' from 'BBB-'. Concurrently, we raised all other Tanger-related ratings, affecting roughly $400 million in senior notes. Lastly, we revised our outlook on the company to stable from positive (see list). "The one-notch upgrade acknowledges the company's improved financial flexibility following recent refinancing activity, which unencumbered all of Tanger's wholly owned assets and extended debt maturities to 2011, as well as the company's comfortable operating cash flow coverage of all fixed-charge obligations including all dividends," said Standard&Poor's credit analyst Linda Phelps. "The upgrade also reflects Tanger's ability to
