Fitch affirms Getty Realty

Fitch Ratings said it affirmed the ratings Getty Realty Corp., including the long-term issuer default rating at BBB-.

The agency said the ratings reflect Getty Realty’s strong credit metrics, predominantly single-tenant, triple-net leased assets that generate consistent cash flow growth and unsecured debt profile.

These strengths are balanced by a concentration in unrated tenants and an ongoing environmental remediation liability, which has an element of uncertainty, and relatively lower contingent liquidity for convenience stores and gas stations (C-stores) in comparison to other real estate sectors, Fitch said.

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