Fitch affirms Kimco

Fitch Ratings said it affirmed Kimco Realty Corp.'s issuer default rating at BBB+, unsecured revolving credit facility at BBB+, senior unsecured term loan at BBB+, senior unsecured notes at BBB+ and preferred stock at BBB-.

The outlook is stable.

The affirmations are based on Kimco's solid track record as a leading owner of community and neighborhood shopping centers, the company's large and diversified pool of retail proprieties, its experienced leasing and management team and its high quality, diversified tenant mix with a well laddered lease expiration schedule, Fitch said.

The ratings also factor in the company's demonstrated track record of accessing a wide variety of capital sources, the agency said.

These positive elements are balanced by slightly low fixed-charge coverage for the category, an uncertain retail real estate environment and a weak liquidity coverage ratio through 2014, Fitch said.

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