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S&P upgrades First Industrial Realty

S&P Global Ratings raised its corporate credit rating on First Industrial Realty Trust Inc. to BBB from BBB-.

The outlook is stable.

S&P Global Ratings had revised the outlook to positive in November 2017.

The ratings agency said the upgrade reflects its view that the company will maintain credit protection metrics near present levels with debt-to-EBITDA in the mix-5x range.

S&P Global Ratings noted the management's recently revised financial policies and said the company is expected to benefit from positive tailwinds in the sector due to e-commerce and its lowered presence in lower barrier markets.

S&P Global Ratings and S&P Global Market Intelligence are owned by S&P Global Inc.