Moody’s changes Retail Opportunity view to negative

Moody’s Investors Service said it revised the outlook for Retail Opportunity Investments Corp. and its subsidiary Retail Opportunity Investments Partnership, LP to negative from stable.

“The negative rating outlook reflects ROIC’s persistently elevated operating leverage, however, partially counterbalanced by the portfolio’s fundamentals. The outlook also incorporates the uncertain prospects of a rapid recovery, as the surging unemployment rate and declining asset values will impact consumer discretionary spending once the public health crisis subsides,” Moody’s said in a press release.

Moody’s affirmed the Baa2 ratings for the company and its subsidiary’s senior unsecured debt.

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