Fitch gives BBB- to Kimco preferreds

Fitch Ratings said it assigned BBB- ratings to the series M perpetual preferred stock issued by Kimco Realty Corp.

Net proceeds are expected to be used to fund 2018 development projects and potentially to redeem outstanding higher-cost preferred stock.

Fitch said the ratings reflect Kimco’s large, stable and diversified portfolio as demonstrated by the company's good historical and expected operating performance, and strong access to capital.

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