Fitch: Duke Realty unchanged

Fitch Ratings said that the announced sale by Duke Realty Corp. of a $1.08 billion suburban office portfolio to an affiliate of Blackstone Real Estate Partners VII has no impact on the current BBB- issuer default rating and stable outlook for Duke Realty and its operating partnership, Duke Realty Ltd. Partnership.

Fitch said it views the transaction positively as the company is disposing of slower-growth suburban office assets and focusing on industrial assets with higher long-term growth potential.

Credit metrics are expected to improve slightly more than Fitch's previous expectations, although will remain consistent with the BBB- issuer default rating, the agency noted.

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