Fitch assigns BBB+ to Kimco notes

Fitch Ratings said it assigned a BBB+ rating to the senior unsecured notes due 2026 issued by Kimco Realty Corp.

Net proceeds are expected to be used for the redemption of the $290.9 million aggregate principal amount of outstanding 5.7% senior notes due May 1, 2017, with the remainder, if any, to be used for general corporate purposes.

Fitch said the ratings reflect Kimco's large, diversified portfolio, its generally consistent and conservative credit metrics over the past five years and its demonstrated strong access to capital. Kimco has made progress reducing the elevated leverage after the Kimstone transaction.

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