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Fitch affirms First Industrial ratings

Fitch Ratings affirmed the issuer default ratings of First Industrial Realty Trust Inc. and its operating partnership at BBB.

The rating outlook is stable.

The move mirrors the industrial real estate investment trust robust portfolio and asset quality enhancements, sound fiscal strategies and increased unsecured debt capital access, which is further amplified by its recent private placement notes offering.

The ratings also reflect the company's sound liquidity position, backed by its disciplined approach to development risk and good unencumbered asset coverage of unsecured debt.

The rating agency projects leverage and fixed-charge coverage to sustain at levels suitable for the BBB rating through 2020, which serves as the primary basis for the stable outlook.