Fitch affirms Hammerson

Fitch Ratings said it affirmed Hammerson plc's long-term issuer default rating at BBB+, short-term issuer default rating at F2 and senior unsecured rating at A-.

The outlook is stable.

Hammerson's decision in March 2012 to concentrate on its retail portfolio and sell its office portfolio over the medium term should allow it to better lever its specialist retail asset management skills and maintain the group's solid business, operational and financial profile, Jean-Pierre Husband, a Fitch analyst, said in a press release.

There is a growing trend in global REIT markets for investors to choose their sector allocation when investing funds, while leaving REIT managements free to concentrate on asset allocation and management within the sector, the agency said.

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