Fitch Ratings said it has affirmed the credit ratings of First Industrial Realty Trust, Inc. (FR: Quote) 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rating to First Industrial, L.P.'s $450 million unsecured revolving credit facility entered into on Dec. 14, 2011 and withdrawn the 'BB' rating on First Industrial, L.P.'s previous credit facility commitment, that included a $200 million term borrowing and an aggregate $200 million of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.
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by RTT Staff Writer
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