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Prospect News home > News index > List of issuers C > Headlines for CoreCivic, Inc. > News item |
Fitch affirms CoreCivic
Fitch Ratings said it affirmed the ratings of CoreCivic, Inc., including its long-term issuer default rating at BB+.
The outlook is stable.
“CXW's rating reflects strong credit metrics and some operational and geographic diversification,” the agency said in a news release.
“This is offset by a lack of alternative uses for the majority of the company's owned assets, a lack of secured property-level financing to-date (a critical credit factor for equity REITs typically serving as a source of contingent liquidity), and asset concentration.”
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