logo
Plus   Neg
Share
Email

Fitch Affirms SL Green's IDR AT 'BB+'; Outlook Stable

Fitch Ratings said Monday that it has has affirmed SL Green Realty Corp.'s (SLG) Issuer Default Rating at 'BB+'.

The Rating Outlook is Stable.

Fitch said the affirmations of SLG's ratings reflect the company's credit strengths, including its manageable lease maturity and debt expiration schedules, granular tenant base, good contingent liquidity in the form of unencumbered assets and the company's maintenance of leverage appropriate for the rating category.

The positive rating elements are balanced by a weak fixed charge coverage ratio and broader concerns regarding the midtown Manhattan leasing environment, which remains somewhat dependent on the growth of large financial institutions and supporting industries such as law and accounting firms, the rating agency noted.

by RTTNews Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
Tesla Inc.'s (TSLA) mass-market Model 3 sedan, which will be available in two new versions with dual motors and all-wheel drive in July, has failed to earn a recommendation from Consumer Reports. Department store chain Kohl's Corp. reported financial results for the first quarter that beat analysts' estimates. Meanwhile, off-price retailer TJX Companies, Inc. reported adjusted earnings for the first quarter that missed analysts' expectations, even as its revenues beat estimates. Both the companies raised their earnings outlook for the full year. Shortly after announcing a racial bias training for the staff, Starbucks revealed its changed policy of allowing anyone to use its spaces, rest rooms, cafes and patios even without buying anything from the stores. The new policy will be consistent all across U.S. stores.
Follow RTT