Fitch rates Kimco preferreds BBB-

Fitch Ratings said it assigned a BBB- rating to Kimco Realty Corp.'s $175 million of 6.9% class H cumulative redeemable preferred stock issuance.

Net proceeds from the offering are expected to be used to repay $150 million in mortgage loans that have interest rates from 6.75% to 7.87% and maturities from May 2011 to April 2013 and for general corporate purposes, the agency said.

The outlook is stable.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.