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Fitch affirms Kimco Realty ratings

Fitch Ratings affirmed Kimco Realty Corp.'s ratings at and maintained the company's stableoutlook.

Specifically, the rating agency affirmed the company'slong-term issuer default ratings, unsecured revolving credit facility rating,senior unsecured term loan rating and senior unsecured notes rating at BBB+ andits preferred stock rating at BBB-.

At the same time, Fitch withdrew all ratings for Kimco NorthTrust III as the company has redeemed its senior unsecured guaranteednotes.

Fitch noted that the ratings take into account Kimco'sstrong access to capital, as well as its large, diversified portfolio and its"generally consistent and conservative" credit metrics over the pastfive years.

The stable outlook, meanwhile, reflects the rating agency'sexpectation that Kimco's long-term capitalization target is unchanged and thatit will maintain leverage in the low- to mid-5x range.

"The outlook also reflects the accommodative operatingenvironment for the sector being offset in part by [the company's] increasingdevelopment exposure," Fitch added.