Kimco Realty OP LLC: Update to credit analysis following affirmation
Our credit view reflects Kimco's large shopping center portfolio and moderate leverage, constrained by the credit profiles of some of its tenants.Kimco Realty is a self-administered real estate investment trust. The company and its subsidiaries are engaged principally in the ownership, management, development and operation of open-air shopping centers, which are anchored generally by grocery stores, off-price retailers, discounters or service-oriented tenants. Additionally, the company provides complementary services on its retail real estate capabilities. The company's ownership interests in real estate consist of its consolidated portfolio and portfolios where the company owns an economic interest, such as properties in the company's investment real estate management programs, where the company partners with institutional investors and also retains management.
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