Fitch affirms Rexford Industrial Realty

Fitch Ratings said it affirmed the long-term issuer default ratings of Rexford Industrial Realty, Inc. and its operating subsidiary, Rexford Industrial, LP, at BBB-.

The outlooks are stable.

Fitch said the affirmation takes into account Rexford’s regionally focused, infill Southern California (SoCal) industrial market concentration, transparent business model, with limited ground-up development or off-balance sheet joint ventures, and credit metrics that are appropriate for its rating.

In addition, the company has adequate financial flexibility in the intermediate term, with only 11% of debt maturing by end-2020 that is supplemented by solid contingent liquidity from Rexford’s large unencumbered property portfolio, the agency said.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.