| Add to balance / Manage account | User: | Log out |
| Prospect News home > News index > List of issuers K > Headlines for Kimco Realty Corp. > News item |
Fitch: Kimco Realty notes BBB+
Fitch Ratings said it assigned a BBB+ rating to the $150 million reopening of Kimco Realty Corp.’s 4.25% senior unsecured notes due 2045.
The notes were priced at 97.96% of the principal amount to yield 4.375% or a 175 basis point spread over the benchmark rate, Fitch said.
Kimco Realty also has an issuer default rating of BBB+, unsecured revolving credit facility rating of BBB+, senior unsecured term loan rating of BBB+, senior unsecured notes rating of BBB+ and preferred stock rating of BBB-.
Kimco North Trust III also has a BBB+ rating on its senior unsecured guaranteed notes.
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, Fitch said.
Kimco also made progress reducing elevated leverage after the Kimstone transaction, the agency 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.