Fitch rates Kimco notes BBB+

Fitch Ratings said it assigned a BBB+ rating to the $500 million 3.4% unsecured notes due in 2022 issued by Kimco Realty Corp.

The proceeds will be used to repay recent and upcoming debt maturities, Fitch said.

The ratings reflect Kimco’s large, diversified portfolio, generally consistent and conservative credit metrics over the past five years and demonstrated strong access to capital, the agency said.

Kimco’s elevated leverage due to the Kimstone transaction is the largest rating constraint, Fitch said.

© 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.