Moody's confirms Kramont Realty ratings

Moody's Investors Service said it has confirmed its rating of Kramont Realty Trust (preferred stock at B3) and maintained the positive rating outlook.

Confirmed were Kramont Realty Trust's Series B-1 and Series D cumulative redeemable preferred shares at B3; preferred stock shelf at prospective B3; unsecured debt shelf at prospective B1.

Moody's noted that Kramont has addressed Moody's concerns following the June 2000 merger of Kranzco and CV Reit by successfully integrating the two companies, delevering its balance sheet and refinancing debt. Kramont's effective leverage has declined from 70% in third quarter 2002 to 63% in third quarter 2003.

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