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rating to First Industrial, L.P.'s $450 million unsecured revolving credit facility entered into on Dec. 14, 2011 and withdrawn the 'BB' rating on First Industrial, L.P.'s previous credit facility commitment, that included a $200 million term borrowing and an aggregate $200 million of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
Stocks have moved mostly higher in early trading on Wednesday, adding to the gains posted in the previous session. The major averages have all climbed into positive territory, continuing to recover from Monday's sell-off. Venus and Jupiter, two old romantics in the night sky, danced last night after flirting all month. The two planets appeared so close they looked as though they were colliding. After reporting a sharp increase in U.S. construction spending in the previous month, the Commerce Department released a report on Wednesday showing that construction spending saw further upside in the month of May.
comments powered by Disqus
Follow RTT