Fitch: Washington Prime Group Access to Capital Is Limited Relative to Peers -- Market Talk

道琼斯 · Jan 25, 2020 07:15

DJ Fitch: Washington Prime Group Access to Capital Is Limited Relative to Peers -- Market Talk

1815 ET - Many retail-focused REITs are dealing with store closings and bankruptcies, but according to Fitch, Washington Prime Group's access to capital "is limited relative to other U.S. equity REITs." Fitch downgrades the REIT to B from BB-, with a negative outlook. The company faces "increasing headwinds in brick-and-mortar retail," and "WPG's operating metrics have worsened," the rating firm says. In its favor, Washington Prime Group has "demonstrated access to the mortgage market through recent refinancing of existing mortgages under terms substantially similar or improved versus the prior loan." The REIT was downgraded by S&P in October and Moody's in December. (josh.beckerman@wsj.com)

(END) Dow Jones Newswires

January 24, 2020 18:15 ET (23:15 GMT)

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Fitch: Washington Prime Group Access to Capital Is Limited Relative to Peers -- Market Talk

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