Fitch affirms Realty Income

Fitch Ratings said it affirmed the issuer default rating and outstanding credit ratings of Realty Income Corp. as follows: issuer default rating at BBB+, $1.5 billion of senior unsecured notes at BBB+, $355 million unsecured revolving credit facility at BBB+ and $345.5 million of preferred stock at BBB.

The outlook is stable.

The agency said that the rating affirmations center on Realty Income's highly diversified unencumbered portfolio of freestanding retail assets and the company's solid liquidity position, providing ample downside protection to unsecured bondholders and preferred stockholders.

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