logo
Share SHARE
FONT-SIZE Plus   Neg

Fitch Affirms First Industrial's IDR At 'BB'; Outlook Stable - Quick Facts

Fitch Ratings said it has affirmed the credit ratings of First Industrial Realty Trust, Inc. (FR) and its operating partnership, First Industrial, L.P.

First Industrial Realty Trust Inc.'s Issuer Default Rating (IDR) has been affirmed at 'BB'; $275 million preferred stock has been affirmed at 'B+'.

Fitch affirmed First Industrial, L.P's IDR at 'BB'; $644 million senior unsecured notes at 'BB'.

In addition, Fitch has assigned a 'BB' rating to First Industrial, L.P.'s $450 million unsecured revolving credit facility entered into on Dec. 14, 2011 and withdrawn the 'BB' rating on First Industrial, L.P.'s previous credit facility commitment, that included a $200 million term borrowing and an aggregate $200 million of revolving borrowings.

The Rating Outlook is Stable.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
Philips Lighting, the splinter group of Dutch consumer electronics giant Philips, saw its shares rally around 8.50 percent on its debut on Friday at the Amsterdam stock exchange. The shares are currently at 21.70 euros, above its set pricing of 20 euros per share. Goldman Sachs is changing the way it reviews the performance of its some 36,500 employees, media reported Thursday, citing two company wide memos. The bank, considered to be a forerunner in formulating employee compensation policy, is looking to scrap a system that rated employees on a scale of 1 to 9. The system is considered to grind down employee morale. Taiwanese electronics assembler Foxconn Technology Group has replaced 60,000 workers at a factory in China with robots, according to a report in the South China Morning Post. However, the company, which is a major supplier to Apple and Samsung, expects to maintain a significant workforce in China.
comments powered by Disqus
Follow RTT