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Fitch assigns Retail Opportunity BBB-
Fitch Ratings said it assigned first-time ratings to Retail Opportunity Investments Corp. (ROIC) and Retail Opportunity Investments Partnership, LP, including a long-term issuer default rating (IDR) of ‘BBB-’. Fitch assigned ‘BBB-’ ratings to Retail Opportunity Investments Partnership’s senior unsecured notes, senior unsecured term loan and senior unsecured revolving credit facility.
“The ratings reflect ROIC’s high-quality, grocery-anchored shopping center portfolio located in densely populated, high barrier-to-entry west coast U.S. markets. The company’s portfolio is near the high end of its shopping center REIT peers with respect to key quality metrics, including household income and population demographics, rents per square foot, occupancy and a market-implied cap rate,” Fitch said in a press release.
The outlook is stable.
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