Fitch gives Federal Realty Investment, loan, notes BBB+

Fitch Ratings said it has assigned initial credit ratings to Federal Realty Investment Trust, Inc. as follows: issuer default rating BBB+; $300 million unsecured revolving credit facility BBB+; $272 million unsecured term loan BBB+; $1.0528 billion senior unsecured notes BBB+; and $10 million redeemable preferred shares BBB.

The outlook is stable.

According to the agency, the ratings are based on Federal Realty Investment's consistent operating strategy that has produced a track record of strong performance, low leverage levels, a large, high-quality pool of unencumbered assets, solid liquidity position, manageable debt maturity schedule, and demonstrated access to a range of capital sources.

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