logo
Share SHARE
FONT-SIZE Plus   Neg

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 RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
Facebook founder and CEO Mark Zuckerberg said he is not running for public office, amid rising speculation that his plans for traveling the U.S. indicated he is gearing up for a future presidential run. Ford Motor Co. (F) announced the replacement of President and CEO Mark Fields with Jim Hackett, who heads its automotive vehicle subsidiary. The company said, Fields, who served Ford for the last 28 years, opted to retire. Hong Kong flag carrier Cathay Pacific Airways Limited announced Monday around 600 job cuts in its head office, reportedly its biggest headcount reduction in almost twenty years. Cathay Pacific will cut around 25 percent of management roles and 18 percent of non-managerial positions at its headquarters.
comments powered by Disqus
Follow RTT