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Fitch affirms Kimco Realty rating

Fitch Ratings affirmed Kimco Realty Corp.'s issuer default rating at BBB+.

The outlook is stable.

Fitch said the rating action reflects the company's strong access to capital and its large, stable and diversified portfolio as well as its elevated leverage ratio of 6.6x for the quarter ended Sept. 30.

The stable outlook reflects the rating agency's expectation that the company will reduce leverage to a level in the low to mid 6x range.