Fitch affirms General Growth

Fitch Ratings said it affirmed General Growth Properties, Inc.'s issuer default rating at BB, revolving credit facility at BB, term loan at BB, exchangeable senior notes at BB and perpetual preferred stock at B+.

Fitch affirmed subsidiary Rouse Company LP's issuer default rating at BB and senior unsecured notes at BB and subsidiary Price Development Co., LP's issuer default rating at BB+ and senior unsecured notes at BB+.

The outlook is stable.

The agency said the affirmations reflect the solid performance of General Growth's portfolio of 200 regional shopping malls in 45 states. The ratings also are bolstered by the strength and experience of the management team, Fitch said.

Credit concerns reflect financial metrics, according to the agency.

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