Fitch affirms Realty Income

Fitch Ratings said it affirmed the credit ratings of Realty Income Corp. as follows: issuer default rating at BBB+; unsecured revolving credit facility at BBB+; senior unsecured notes at BBB+; and preferred stock at BBB-.

The outlook is stable.

The affirmation of the issuer default rating at BBB+ reflects the company's consistent earnings from its predominantly triple-net leased freestanding retail property portfolio in excess of fixed charges, the agency added.

Credit strengths also include a strong liquidity position, appropriate leverage for the BBB+ rating, and a solid management team, Fitch said.

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