Fitch Ratings affirmed DDR Corp.'s ratings, including its BBB- issuer default rating.
The outlook is stable.
Fitch attributed the affirmation to DDR's credit strengths, including the continuously improving quality of its retail property portfolio and the management team's focus on streamlining the business and polishing the asset base. Proven access to various capital sources, a granular roster of select quality credit tenants and strong expected fixed-charge coverage for the BBB- rating have also proved beneficial for the company, Fitch added.
Other ratings affirmed by Fitch are DDR's unsecured revolving credit facility, unsecured term loan, senior unsecured note and senior unsecured convertible note ratings at BBB-, and its preferred stock rating at BB.