Fitch revises Spirit Realty view to negative

Fitch Ratings revised the outlook to negative from stable and affirmed the ratings of Spirit Realty Capital, Inc. (SRC) and its operating partnership, Spirit Realty, LP, including the long-term issuer default ratings at BBB.

“The negative outlook reflects the prevailing uncertainty for retail businesses, particularly those more highly exposed to coronavirus-related impacts, including fitness (7.3% of SRC’s total ABR), casual dining (6.2% ABR) and theaters (5.6% ABR), and the possibility of widespread lease non-performance and bankruptcy events for private-equity backed (28.5% of retail ABR) and less well-capitalized, non-investment-grade operators (79% of retail ABR),” Fitch said in a press release.

© 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.