Fitch ups Retail Opportunity

Fitch Ratings said it upgraded the long-term issuer default ratings for Retail Opportunity Investments Corp. (ROIC) and Retail Opportunity Investments Partnership, LP to BBB from BBB-.

“The upgrade reflects ROIC's improved leverage metrics, transparent business model, and the high quality of its grocery-anchored shopping center assets. The company's portfolio is near the high end of its shopping center REIT peer group with respect to key quality metrics, including household income and population demographics, rent per square foot, occupancy, and market implied cap rate,” Fitch said in a press release.

The outlook is stable.

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