standard and poor's rate linc usa, page-16

Ratings agencies are paid by the issuer. New issues are rated in advance of the issue so that investors know what they are buying. (Just like equity research).

S&P will follow Linc because that is the implied commitment they make to investors.

B- is junk. No surprise as Linc is not a blue chip. Just means they will pay in terms of rates.

I think it is positive that as a development company Linc has got to a position where is can issue debt in the capital markets, albeit with a very low rating.