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rating to First Industrial, L.P.'s $450 million unsecured revolving credit facility entered into on Dec. 14, 2011 and withdrawn the 'BB' rating on First Industrial, L.P.'s previous credit facility commitment, that included a $200 million term borrowing and an aggregate $200 million of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