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Fitch affirms Realty Income
Fitch Ratings said it affirmed the ratings for Realty Income, including the issuer default rating at BBB+.
The outlook is stable.
“The affirmation of Realty Income's BBB+ issuer default rating reflects the granularity of its predominantly retail net lease portfolio, disciplined acquisition strategy and management track record,” the agency said in a news release.
“Credit strengths also include strong expected fixed-charge coverage (FCC), ample liquidity and strong access to multiple sources of capital.”
Fitch said it expects that leverage will sustain in the mid-5x range over the next 12 to 24 months, which is appropriate for the BBB+ rating.
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