Emerson International launches Eagle Creek Realty in Southeast Orlando

ORLANDO, Fla. --- Emerson International, developer of the master planned Eagle Creek golf course community on Narcoossee Rd. two miles south of S.R. 417 in southeast Orlando, has launched Eagle Creek Realty to serve as the official sales and marketing agents for the more than 3,000 planned luxury single-family homes, golf villas, and town homes at Eagle Creek.

Eric J. Emerson, vice president and general manager of Emerson International, said the gated golf course community has proved a popular choice for a wide variety of families in all price ranges.

Surrounding a championship 18-hole golf course with its New England manor clubhouse and enviable golf, lake, and forest views, Eagle Creek is currently home for some 500 families.

Emerson said 2,000 new homes are planned, along with a wide range of amenities that include community swimming pool, tennis courts, jogging, hiking and biking paths, equestrian trails, a new elementary school within the community, shopping at the planned Village Center, and a planned hotel with luxury accommodations for out-of-town guests.

“Eagle Creek Realty will provide specialized sales and marketing for residential opportunities at Eagle Creek,” Emerson said.

For more information about this press release, contact Eric J. Emerson, Vice President and General Manager Emerson International, Inc. 407-834-9560; ejemerson@emerson-us.com;
Larry Vershel or Beth Payan, Larry Vershel Communications, 407-644-4142

Palmer Electric to wire 1500 SouthPark in Orlando

WINTER PARK, FL — The commercial division of Palmer Electric Company has secured a contract from Brasfield & Gorrie LLC, a general contractor, to wire 1500 SouthPark, (top right photo) an office building located in SouthPark Center in Orlando, Fla.

Palmer Electric’s scope of services is composed of site and building electrical contracting including systems for fire alarm, access control and lightning protection. The four-story, 155,000-square-foot building is scheduled for completion in April 2009.

The Jacksonville, Fla., office of Flagler Development Company Land Holdings LLC is developing the project. HuntonBrady Architects of Orlando, Fla., is the architect. CHPA Consulting Engineers of Maitland, Fla., is providing electrical engineering. Palmer Electric has provided electrical contracting services for the construction of seven buildings in SouthPark Center.

Palmer Electric Company is a provider of electrical contracting and service to contractors and builders for new construction and renovations of residential, commercial, institutional and industrial buildings as well as providing service and repairs to utilities, businesses and consumers.

Founded in 1951, the Company employs a staff of 350 from its headquarters in Winter Park, Fla. For more information, visit http://www.palmer-electric.com/.

Thomas G. Beard, bottom left photo, is Chairman, President, and CEO of Palmer Electric.

Contact: Elaine Ingra, PR WORKS!, PH: 407 384-1344,
elainei@pr-works.com, and http://www.pr-works.com/

Construct Two Group secures contract from City of Lakeland

ORLANDO, FL— Construct Two Group has secured a $1.8 million contract from the City of Lakeland, Fla., for general contracting services for renovations and an addition to the Coleman-Bush Building, (top right photo) a community center located on Martin Luther King, Jr. Drive.

The scope of services is comprised of site preparation, the renovation of 20,328-square-feet of existing space and a 2,420-square-foot addition.

Once completed, the facility will feature larger meeting and community rooms, expanded restrooms and offices for the City’s Code Enforcement and Housing units.

Originally, the project was scheduled for completion in April 2009. However, Construct Two is working to finish the renovated east portion of the building in January to meet the City’s need to move Code Enforcement and Housing into offices earlier than planned. The remainder of the project will be completed according to the initial schedule.

Swilley Curtis Mundy Hannicutt Associates Architects Inc., Lakeland, Fla. is the architect of record. Florida-based subcontractors under contract with Construct Two include Bodie Electrical Contractors Inc., Jacksonville; Payne Air Conditioning & Heating Inc., Lakeland; Assured Excavating, Orlando; Advantage Roofing, Orlando; A Catapano Plumbing Inc., Orlando; and Beneficial Fire Protection, Thonotosassa.

Construct Two Group provides construction management, design-build and program management services to public and private sector clients. (Keith Williams, bottom left photo, is president and CEO of Construct Two Group.)

Having completed more than $500 million in projects since its founding in 1990, Construct Two Group is the largest African-American-owned construction management company in Florida. The Company employs a professional and support staff of 31 from offices in Orlando, Tampa and Tallahassee, Fla.

Please visit http://www.constructtwo.com/ for additional information.

Contact: Elaine Ingra, PR WORKS!, PH: 407 384-1344,
elainei@pr-works.com and http://www.pr-works.com/

D & A Building Services ranked largest commercial cleaning company in Central Florida

LONGWOOD, FL —D & A Building Services Inc. was recently ranked the largest commercial cleaning/janitorial services company in 2008 by Orlando Business Journal.

The poll, published in the publication’s December 5 – 12, 2008 issue, notes the Longwood, Fla.-headquartered facility maintenance company topped the list with 2007 revenues of $18.6 million.

“It is a tremendous compliment to our staff to be ranked number one,” said Al Sarabasa, Jr., (top right photo) president and founder, D & A Building Services Inc.

Founded in Central Florida in 1985, D & A Building Services has grown to a full-service facility maintenance company with offices in Longwood, Fla., Jacksonville, Fla., Tampa, Fla., Kansas City, Mo., Madison, Wis., Dallas, Texas; and Detroit, Mich.

D & A provides janitorial, exterior maintenance, landscape maintenance, waterproofing, construction clean-up and communications services to property managers, building owners, and local, state and Federal governments. The veteran-owned company is an Hispanic-Owned Business Enterprise.

For additional information, please visit http://www.dabuildingservices.com/.

Contact: Elaine Ingra, PR WORKS!, PH: 407 384-1344, elainei@pr-works.com, http://www.pr-works.com/

Seminole Community College bestows honorary degree on David M. Beasley

WINTER PARK, FL— David M. Beasley, senior vice president at Palmer Electric Co., received an honorary Associate of Arts degree from Seminole Community College (SCC) at a commencement ceremony held at its Sanford/Lake Mary Campus on December 12.

Beasley was honored for his efforts to improve construction education, and for his leadership role in Central Florida’s construction industry throughout his 49 year career.

(SCC President Dr. E. Ann McGee, top right photo, presents an Honorary Associate in Arts Degree to David Beasley. Photo by Bob Knight Photo and Chappell Studio.)

Beasley currently serves on the SCC Construction Management Advisory Board. During his long association with SCC, he worked on the design, construction and funding of the Bellwether award-winning Construction Trades Building (building D) on the Sanford/Lake Mary, Fla., campus.

Beasley’s efforts helped create a unique funding mechanism to construct the building with the State of Florida providing $2.7 million and the construction industry providing matching in-kind contributions. Further, Beasley and Palmer Electric Co. continue their partnership with SCC, and their support of the construction management program through donations.

Beasley also worked with SCC and Seminole County Public Schools to offer Dual Enrollment opportunities for high school students enrolled in the Academy of Construction Technologies (ACT), an organization Beasley helped found, that affords high school students pre-apprenticeship training at SCC.

Contact: Elaine Ingra, PR WORKS!, PH: 407 384-1344,
elainei@pr-works.com, and http://www.pr-works.com/

Expert Says Funding Options Available in Sub-Acute Nursing Field

CHICAGO, IL--Nursing home owners wishing to expand and tap into profits from sub-acute nursing business are not without funding options.

“FHA-insured HUD loans can be an ideal vehicle for funding these projects, but conventional lenders with healthcare specializations are also interested in this profitable facet of the business,” says Cambridge Realty Capital Companies Senior Vice President Brent Holman-Gomez. (top right photo)

Cambridge is one of the nation’s leading senior housing/healthcare lenders, with more than 300 closed transactions totaling more than $2.75 billion since the mid 1990s. The company has consistently ranked among the leading HUD 232 lenders and offers conventional funding options as well.

Holman-Gomez points out that four years ago, sub-acute nursing was a new concept. Today, the business model is widely recognized as a proven bottom-line contributor and is projected to become an even more important profit center in the future.

Most typically, sub-acute residents enter the nursing home following hospital stays of three or more days and hope to exit and return to their own homes following a short-term stay. Primarily, the concept is being marketed to individuals with financial resources and those with Medicare benefits, which cover costs for up to 90 days.

Holman-Gomez points out that serving this market segment is more capital-intensive, with owners investing more in both staff services and facilities.

Significant investments are being made to improve older homes and create the sort of environment and ambience that appeals to sub-acute residents.

Some owners of existing homes are dedicating entire wings of their buildings to this more profitable sub-acute market segment, while others are completely retro-fitting their facilities to cater to these residents.

In what’s becoming a more competitive industry, owners hoping to attract this lucrative business are stepping up marketing efforts to doctors and hospitals. The trend has been for owners to offer improved services and more spacious private rooms and a “homey” ambience to attract residents.

Holman-Gomez believes HUD is an excellent choice to fund these improvements because the high loan-to-cost value on these loans minimizes the amount of additional investment that will be needed by the owner.

Owners can either underwrite existing business income with increased loan proceeds for minor to mid-sized improvements, or underwrite projected business income from a substantial new construction project.

While the capital markets are tight, some conventional lenders with healthcare specializations are providing funding to refinance with expansion and for accounts receivable financing to fund business growth, he said.

Contact: Evan Washington, Phone: (312) 521-7603. Fax: (312) 357-1611

E-Mail: ew@cambridgecap.com

GE Capital Corp. Outlook To Negative On 2009 Earnings Prospects; Ratings Affirmed

NEW YORK, NY--Standard & Poor's Ratings Services has revised the outlook on General Electric Capital Corp. (GECC) and all related entities to negative from stable and affirmed the 'AAA' long-term and 'A-1+' short-term counterparty credit ratings.

The outlook revision on GECC's parent, General Electric Co. (GE) and accordingly on GECC, reflect in part concerns relating to GECC. (Please see the related release on GE, also published today.)

"GECC's earnings deterioration in 2009 and 2010 could be greater than we previously assumed," said Standard & Poor's credit analyst Scott Sprinzen (top right photo).

"The outlook revision reflects the continuing risks posed by GECC's reliance on confidence-sensitive wholesale funding, despite the benefits of temporary U.S. government support programs and of management's ongoing efforts to reduce GECC's reliance on commercial paper, strengthen near-term liquidity, downsize the asset base, and strengthen capital.

'The outlook on GE and GECC is negative, indicating that we believe there is at least a one-in-three possibility of a downgrade within the next two years.

"We believe GECC will experience significantly higher credit costs in 2009 compared to those in 2008 and sharply lower earnings from its real estate operations.

If we thought net earnings in 2009 would be significantly lower than management's current forecast (i.e., net income of $5 billion), we could reassess the rating.

Our view of GECC's credit profile would be adversely affected if, in our opinion, GECC were not on track toward meeting management's stated targets for, increased liquidity, reduced financial leverage and reduced reliance on commercial paper.

Conversely, GECC's credit profile would benefit if its earnings recovered significantly in conjunction with demonstrating progress in lowering the risk of its funding and capitalization.

Media Contact:
Jeff Sexton, New York (1) 212.438.3448, jeff_sexton@standardandpoors.com

Analyst Contacts:
Scott Sprinzen, New York (1) 212.438.7812
Rian M Pressman, CFA, New York (1) 212.438.2574

CB Richard Ellis Represents Stiles in $17.75M Sale of Arbor Square at Connerton in Tampa, FL Suburb

MIAMI, FL – CB Richard Ellis, the world's leading commercial real estate services provider, arranged the $17.75 million sale of Arbor Square at Connerton, (top right photo) an 80,000-sq.-ft. shopping center located on U.S. Highway 41 in Land O'Lakes, Fla., 20 miles north of downtown Tampa.

Mark Shellabarger, (middle left photo) senior vice president with the Tampa office of CB Richard Ellis, and Dennis Carson, (bottom right photo) senior vice president with CB Richard Ellis' Miami office, exclusively represented the seller, an affiliate of Stiles Corporation, based in Ft. Lauderdale, Fla.

Stiles Corporation is a full-service commercial real estate development and investment company responsible for more than 37 million square feet of office, industrial, retail, and mixed-use residential projects throughout the southeastern United States.

The buyer was affiliated with Tatone Properties, a private investment firm with holdings in Florida and Canada.

Arbor Square at Connerton was completed in 2007 and features a new 45,600-sq.-ft. Publix grocery store, a SunTrust Bank located on an outparcel, and nearly 34,000 sq. ft. of restaurant and retail space.

"Arbor Square benefits from limited direct competition and serves a large trade area that includes both well established and new communities," Carson said.

"Longer term, when the economy improves and Florida's growth returns to normal levels, the area surrounding Arbor Square is poised for dramatic residential growth, which will benefit the property and its tenants."

CONTACT: Rebecca Thomas, 305.381.6485, rebecca.thomas@cbre.com

Marcus & Millichap Sells 122-Unit Apartment Community in Duncanville, TX

DUNCANVILLE, TX – Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has arranged the sale of Wexford Townhomes, (top right photo) a 122-unit multi-family community in Duncanville, to satisfy a 1031 exchange.

Al Silva, a senior associate in the Fort Worth office of Marcus & Millichap, and Kelley Sparkman, (middle left photo) an investment specialist in the firm’s Dallas office, retained the exclusive listing to market the property on behalf of the seller, a Florida-based private investment group.

The buyer was an out-of-state private investor.

“The buyer’s experience operating out-of-state multi-family properties was a significant factor in his successful assumption of the interest-only loan at 6.18 percent, which resulted in a cash-on-cash return that was considerably higher than average return for such a high-quality asset,” says Silva.

“Many owners have capitalized on the appreciation of their holdings and moved into other markets across the country to leverage their returns and fulfill the requirements of the 1031 exchange,” adds Sparkman.

“We were able to do this by using Marcus & Millichap’s unique national marketing platform and its ability to access a nationwide pool of investment capital.

"This transaction illustrates that capital is still flowing into the 1031 exchange market despite continued tightening of the credit markets.”

Located at 600 Wembley Circle, Wexford Townhomes is in excellent condition and one of the most attractive rental properties in the area. Occupancy is at approximately 95 percent and maintained that level throughout the sale process

Press Contact: Stacey Corso, Communications Department, (925) 953-1716

Investments Valued at $64M Announced by Place/BV Student Housing Fund

ATLANTA and CHICAGO /PRNewswire/ -- The Place/BV Student Housing Fund, LLC, a real estate investment fund focused on the acquisition and development of student housing properties nationwide, announced its most recent investments.

Hill Place serves the students of the University of Arkansas at Fayetteville and Rebel Place serves the students of the University of Nevada at Las Vegas (UNLV). Both communities will open summer of 2009.

BVP Managers, LLC, a joint venture between Atlanta, Georgia-based Place Properties, LP and Chicago, Illinois-based Blue Vista Capital Management, LLC, serves as the Manager of the Fund.

Hill Place, located directly across from the campus on Sixth Street, is in one of the most desirable locations for students of the University of Arkansas.(middle left photo)

Known as "the hill," the site is closer to campus than the parking lots for football and basketball games.

Hill Place will provide the purpose- built, contemporary housing that is in short supply near campus.

This garden- style community will house 840 students in 288 one, two and four bedroom apartments.

All apartments will offer contemporary furniture with full kitchens including washers and dryers. Each bedroom will have its own private bathroom.

Community amenities include a clubhouse with WIFI and a game room, a 24-Hour fitness center, tanning beds, with outdoor amenities to include two basketball courts, a study garden, walking/jogging trails throughout the property, and two resort-style swimming pools.

Rebel Place, located only a half mile from campus, will also be a garden style community serving the growing student population at UNLV.

Offering 480 beds in unit types that include two, three and four bedroom units, all with private bathrooms, the property will offer an alternative to the on-campus suite-style housing.

Bob Clark, (top right photo) Executive Vice President said, "Place is very excited about the addition of Hill Place and Rebel Place to our student housing portfolio.

"Both universities are growing and the markets have high barriers to entry. These projects compliment our portfolio and represent quality assets in excellent markets."

Blue Vista Capital Management, LLC is a leading national real estate investment management firm with in excess of $550 million in capital under management. Blue Vista has participated in joint ventures representing over $3 billion in total capitalization.

Place Properties, LP, has over 11 developments in various stages of construction nationwide making it one of the largest multifamily development and construction organizations in the country. Place Properties has developed more than $800 million of student housing properties since 1996 and currently manages more than 17,000 beds.

CONTACT: Jessica H. Nix, Director of Marketing and Public Relations of Place Properties, LP, +1-404-495-7591, jnix@placeproperties.com

Web site: http://www.placeproperties.com/

The Easton Group Closes on Sale-Leaseback of 120,000 sq ft Warehouse in Broward County, FL

DORAL, FL--The Easton Group, a full-service commercial real estate firm based in Doral, FL, has purchased a 120,000 square foot warehouse located in Deerfield Beach.

The building, located at 2900 Southwest 15th Street, was built in 2003 on 8.84 acres.

The Easton Group, through its partnerships bought the warehouse from Graebel/South Florida Movers, Inc. for $9.6 million ($81 per sq ft) and leased it back to them.

Financing was provided by State Farm Life Insurance Company.

“Even in these times of tight credit, we still have the ability to secure financing on real estate deals that make sense,” said Edward W. Easton, (top right photo) founder and chairman of The Easton Group.

About The Easton Group:
The Easton Group is a family-owned, boutique commercial real estate firm with over 30 years of experience and an exceptional track record.

The group is broken down into four business units consisting of commercial real estate investment, development, brokerage, and property management.

The company currently has more than 5 million square feet under management. The Easton Group is headquartered at International Corporate Park in Doral.

For more information, please log on to http://www.theeastongroup.com/

Contact: Todd Templin, 954 370-8999, Boardroom Communications, http://www.boardroompr.com/

HFF arranges $27M loan for Maryland warehouse facility

NEW YORK, NY – The New York office of HFF (Holliday Fenoglio Fowler, L.P.) has arranged a $27 million loan for 7605 Dorsey Run Road, a 612,900-square-foot warehouse facility in Jessup, Maryland.

HFF director Steven Klein (top left photo) worked on behalf of Exeter Property Group to secure the five-year, adjustable-rate loan.

Founded in 2006, Exeter Property Group is a real estate company specializing in investing in value-add industrial properties in the Northeast, Mid-Atlantic, Mid-South and Southeastern United States.

New York Life Investment Management LLC, the real estate investment manager for New York Life Insurance Company, closed the loan.

Situated within the Dorsey Run Commerce Center, Dorsey Run Road has excellent access to Interstate 95, 295 and Route 1 and is in close proximity to the Baltimore-Washington International Airport and Fort Meade.

The Class A warehouse facility was completed in 2006 and is nearly one-third leased to Iron Mountain. 7605 Dorsey Run Road has 32’ clear ceiling heights and is cross-docked designed, with 122 loading docks and storage available for 111 trailers.

“7605 Dorsey Run Road is strategically positioned to benefit from two major events in the Baltimore-Washington Corridor. The Base Realignment and Closure Act (BRAC) will bring over 20,000 jobs to the areas surrounding Fort Meade,” said Klein.

“Additionally, the ongoing Route 1 Revitalization Effort will bring new road access, upgraded streetscapes, and an improved environment for local and regional businesses.

"This has already directly benefited the property through the Dorsey Run Road Extension, which now provides immediate access to Route 175. ”

Contacts:

Steven J. Klein, HFF Director, (212) 245-2425, sklein@hfflp.com

Myra F. Moren, HFF Director, Marketing, (713) 852-3500, mmoren@hfflp.com

Carlson opens 1,000th hotel worldwide in St. Martin

ST MARTIN, CARIBBEAN– Carlson Hotels Worldwide® today opened the 1,000th hotel in its worldwide portfolio, the Radisson St Martin Resort, Marina & Spa, (top right photo) dedicating the achievement of this growth landmark to a global initiative of environmental sustainability and responsible business.

At opening ceremonies, top company officials joined with representatives of the United Nations Environment Programme (UNEP) Plant for the Planet: Billion Tree Campaign (billiontreecampaign.com) and The Carbon Neutral Company (carbonneutral.com) to officially dedicate this $80 million resort.

The company is planting 1,000 trees worldwide and making a financial donation to the UNEP program plus partnering with The CarbonNeutral Company to offset carbon equivalent to 10,000 room nights.

A highlight of the opening was the planting of the first tree in the 1,000 tree initiative, an indigenous Flamboyant tree that was located near the resort’s signature ocean-front pool.

“We are extremely proud to open the Radisson St Martin Resort - the 1,000th property in the Carlson Hotels Worldwide portfolio---celebrating this growth milestone with a global initiative embracing responsible business and environmental sustainability,” said Jay Witzel, (top left photo) president and CEO of Carlson Hotels Worldwide. “The five brands of Carlson Hotels Worldwide now are serving guests in 74 countries,” he added.

These brands include: Regent Hotels & Resorts (regenthotels.com); Radisson Hotels & Resorts (radisson.com), Park Plaza® Hotels & Resorts (parkplaza.com), Country Inns & Suites By CarlsonSM (countryinns.com) and Park Inn® (parkinn.com).

The new 252-room Radisson St Martin Resort, nestled in the picturesque cove of Anse Marcel facing 1,600 feet of white-sand beachfront, is a flagship resort in the growing global portfolio of Radisson Hotels & Resorts.

The luxury ocean-front resort has undergone a total transformation and features 63 suites and 189 guestrooms; a signature beachfront restaurant with al fresco dining; casual, market-style eatery and lobby tapas bar. The resort also includes a stunning zero-entry infinity pool; full-service spa and fitness center; 7,500 square feet of meeting space and 150-slip marina.

The hotel is managed by Radisson Hotels & Resorts under Caribbean veteran Hotel Manager Jeff Lesker. For more information on this resort, visit www.radisson.com/stmartin.

“We are delighted that Carlson Hotels is celebrating the opening of its 1,000th global property by pledging 1,000 trees to the Billion Tree Campaign,” said Achim Steiner, (middle right photo) executive director United Nation’s Environment Porgramme. “In the face of alarming environmental data, the Billion Tree Campaign offers hope and a simple solution for climate change mitigation, while enhancing biodiversity.”

“Taking action on climate change involves making the issue accessible to everyone – as a company and also as an individual,” said Sue Welland, (bottom left photo) Founder and Executive Director, Marketing of The CarbonNeutral Company.

“We are pleased to team with Carlson Hotels in support of an initiative that emphasizes sustainability, personal responsibility and which provides customers with a simple yet effective solution.”

Taj Opens Fifth Hotel in Bangalore, India

BANGALORE, INDIA- - Taj Hotels Resorts & Palaces today announced the highly anticipated opening of its new premium city hotel in the IT nerve centre of Bangalore.

The hotel also bears a new name and identity: “Vivanta by Taj - Whitefield, Bangalore” (top right photo) and is slotted in the ‘upper upscale’ segment.

The stunningly designed hotel arrests attention, being located right at the entry-point of the ITPB (International Tech Park, Bangalore) at Whitefield in East Bangalore. (bottom left photo)

With this, the Taj now operates five hotels in the city.

Vivanta addresses the needs of a sophisticated and cosmopolitan customer group, with 199 stylish guest rooms, eclectic entertainment and dining options and a spectrum of facilities offered specifically based on a deep study of the new generation traveler’s lifestyle.

Vivanta is designed to deliver vibrant experiences; combining the charming hospitality that is the hallmark of the Taj, with a contemporary, vivacious twist!
The name Vivanta is drawn from vivacity, vividness & ‘bon vivant’: an appreciation of the good things in life. It speaks of style, refinement and living life to the full.

“We are delighted to open this new hotel in the vibrant, cosmopolitan city of Bangalore. Our growth plans envisage a critical role for this key metropolis and we look forward to making a strong impression with this unique offering” commented Raymond N Bickson, (middle right photo) Managing Director and Chief Executive Officer, The Indian Hotels Company Limited.

Jamshed Daboo, (middle left photo) the Chief Operating Officer, Taj Premium Hotels explained “Our hotel in its physical form, the services we offer & the imagery that Vivanta creates are all in perfect sync with the ethos of Bangalore.

"Vivanta Whitefield Bangalore is high-spirited & stylish and will appeal to the agile ‘work-hard-play-hard’ hotel user. We have collaborated with this customer set and have devised a creative set of experiences which seek to surprise & delight our guests in small but meaningful ways”.

Vivanta by Taj – Whitefield, Bangalore is a hotel for the business nomad & offers a suite of conferencing & banquet facilities. Tango, the banquet hall is over 500 square meters of contemporary meeting space, tuned with digital audio systems & hi speed T-1 internet access. Agenda is the board room equipped for power meets.

For Further information please contact :

Gurprit Kaur Arora/Sagar ParidaVaishnavi Corporate Communications Pvt Ltd9980672672/9008744388

Walt Disney Co.'s Proposed $1B Global Notes Rated 'A'

NEW YORK, NY--Standard & Poor's Ratings Services today assigned its 'A' rating to the proposed $1.0 billion global notes due 2013 offered by The Walt Disney Co.

The long-term corporate credit rating on Disney is 'A' and the rating outlook is stable. The rating reflects Disney's premier creative franchises, extensive media distribution, conservative capital structure, and good discretionary cash flow.

(Magic Kingdom attraction, top right photo)

We currently believe that the company's management of operating costs and capital spending will help support its discretionary cash flow and credit metrics, despite recessionary pressures on revenue.

Media Contact:
Mimi Barker, New York, (1) 212.438.5054, mimi_barker@standardandpoors.com

Analyst Contacts:
Deborah Kinzer, New York (1) 212.438.5229
Heather M Goodchild, New York (1) 212.438.7835