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Fitch affirms Duke Realty rating

Fitch Ratings affirmed its long-term issuer default rating on Duke Realty Corp. at BBB+, with a stable outlook.

The rating agency noted the large scale, high quality and diversification of Duke's 150 million-square-foot almost entirely industrial portfolio, in addition to its appropriate financial policies.

Fitch expects Duke's leverage to be around 5.5x through 2020. It also noted the company's healthy liquidity, calculating that its liquidity coverage ratio is 3.2x for the period running from Oct. 1, 2018, to Dec. 31, 2020, resulting in a roughly $1.19 billion liquidity surplus.