Goldman Suspends Simon Property Group Rating

Update: Goldman is advising Brookstonefield. Explains it all.

GGP suitor SPG has just seen its rating suspended by Goldman Sachs. Usually this happens when Goldman is about to announce it is advising the company under consideration (in this case SPG) on a transaction. Will that be the case here? What is odd is the excuse provided by Goldman on why it is suspending its rating:

We have suspended our investment rating and price target on Simon Property Group (SPG) because there is not currently a sufficient basis for determining an investment rating or price target for this company. Our previous investment rating and price target are no longer in effect and should not be relied upon.

No sufficient basis for determining an investment rating? Obviously Jon Habermann has never consulted with his permaREITbullish friends over at Merrill.

One to watch closely.