RPT Realty Announces Inaugural Investment Grade Credit Rating From Fitch Ratings, Inc.
NEW YORK, Nov. 19, 2020 (GLOBE NEWSWIRE) -- RPT Realty (NYSE:RPT) (the “Company” or “RPT”) announced today that Fitch Ratings, Inc. (“Fitch”) has assigned a first time rating to RPT, including a Long-Term Issuer Default Rating of ‘BBB-‘ with a stable outlook. According to Fitch’s published report, the rating and outlook reflects RPT’s experienced management team, meaningful improvements to operating performance and the balance sheet prior to the pandemic, performance through the pandemic to-date, below average exposure to local tenants, financial flexibility and conservative balance sheet management.
“We are pleased that we were able to obtain RPT’s inaugural investment grade credit rating, particularly during these unprecedented times,” said Brian Harper, President and CEO. “We believe the investment grade rating validates our track record of delivering strong operational results and the quality of our long-term cash flows, as well as, demonstrating our commitment to a best-in-class balance sheet.”
More information regarding RPT’s rating assignment can be found on Fitch's website at: fitchratings.com.
About RPT Realty
RPT Realty owns and operates a national portfolio of open-air shopping destinations principally located in top U.S. markets. The Company's shopping centers offer diverse, locally-curated consumer experiences that reflect the lifestyles of their surrounding communities and meet the modern expectations of the Company's retail partners. The Company is a fully integrated and self-administered REIT publicly traded on the New York Stock Exchange (the “NYSE”). The common shares of the Company, par value
Contact Information
Vin Chao
Senior Vice President - Finance
vchao@rptrealty.com
(212) 221-1752