Fitch: STAG preferreds BB, loans BBB-

Fitch Ratings said it assigned STAG Industrial, Inc. an initial BBB- issuer default rating and a BB rating to its $139 million preferred stock.

At the same time, Fitch rated its operating partnership STAG Industrial Operating Partnership, LP's $200 million senior unsecured revolving credit facility BBB- and $175 million senior unsecured term loans BBB-.

The outlook is positive.

Fitch said the ratings reflect STAG's credit strengths, which include low leverage and strong fixed charge coverage for the rating, excellent liquidity and its sizable unencumbered asset pool.

These credit positives are balanced by the company's portfolio concentration in secondary industrial markets, short operating history as a public company and less diverse sources of capital pending evidence of STAG's ability to issue unsecured bonds, the agency said.

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