S&P turns Retail Opportunity view to stable

S&P said it revised Retail Opportunity Investments Corp.’s outlook to stable from negative and affirmed the company’s BBB- ratings.

“ROIC's operating performance, which exceeded our expectations in 2020, should further stabilize in 2021 as the economy recovers and the pandemic subsides. ROIC's operating performance has largely held up over the past year, with leased occupancy of 96.9% as of March 31, 2021, and manageable bad debt expense despite stricter lockdowns within the West Coast throughout parts of 2020,” S&P said in a press release.

The outlook reflects an expectation for ROIC's operating performance to remain resilient, helped by continued stabilization in net operating income (NOI) growth and improvement in rent collection rates as the pandemic subsides, S&P said.

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