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Fitch affirms British Land ratings

Fitch Ratings affirmed British Land Co. PLC's long-term issuer default rating and senior unsecured rating at A- and A, respectively.

The outlook is stable. The rating agency upgraded its short-term issuer default rating on the London-based diversified real estate investment trust to F1 from F2.

Fitch attributed the ratings to the REIT's strong credit metrics and the quality of its property portfolio.

The REIT has actively managed its capital and portfolio over the past few years, giving it a solid balance sheet to weather a wobbly retail market and the uncertainties surrounding Brexit, according to Fitch.