Quick Facts
FONT-SIZE Plus   Neg
Share SHARE

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

RELATED NEWS
Trade SLG now with 

Fitch Ratings said Monday that it has has affirmed SL Green Realty Corp.'s (SLG: Quote) 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.

Click here to receive FREE breaking news email alerts for SL Green Realty Corp. and others in your portfolio

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Editors Pick
Stocks moved notably higher over the course of the trading day on Friday after initially showing a lack of direction. The gains on the day extended the recent upward trend by the markets, with the tech-heavy Nasdaq reaching its best closing level in almost a month. Looking to capitalize on news of an Ebola diagnosis in New York City, Republican Senate candidate Scott Brown issued a statement Friday criticizing his Democratic opponent Sen. Jeanne Shaheen, D-N.H., for "waffling" on a travel ban. In another troubling sign for Democrats, the results of a Gallup poll released on Friday show that Tea Party Republicans are much more motivated to vote in the upcoming midterm elections than other Americans. The poll found that 73 percent of Tea Party Republicans are "extremely" or "very" motivated to vote in this year's elections.
comments powered by Disqus
FREE Newsletters, Analysis & Alerts

 

Stay informed with our FREE daily Newsletters and real-time breaking News Alerts. Sign up to receive the latest information on business news, health, technology, biotech, market analysis, currency trading and more.