Retail Opportunity Investments Corp. Awarded Investment Grade Rating From Fitch Ratings, Inc.

Rhea-AI Summary

Retail Opportunity Investments Corp. (NASDAQ:ROIC) has received a BBB- long-term issuer default rating from Fitch Ratings, with a stable outlook. This rating reflects ROIC's quality portfolio of grocery-anchored shopping centers in high-demand West Coast markets, strong historical occupancy levels, and solid credit metrics. CEO Stuart A. Tanz expressed pride in achieving this rating during an unprecedented time, emphasizing the company's business stability and robust portfolio. ROIC operates 88 shopping centers totaling approximately 10.1 million square feet as of June 30, 2020.

Positive

• Received a BBB- long-term issuer default rating from Fitch Ratings.
• Stable outlook suggests confidence in ROIC's financial health.
• High-quality, grocery-anchored shopping center portfolio in prime markets.
• Best-in-class historical occupancy levels.

Negative

• None.

SAN DIEGO, Oct. 14, 2020 (GLOBE NEWSWIRE) -- Retail Opportunity Investments Corp. (NASDAQ:ROIC) announced today that Fitch Ratings, Inc. (Fitch) has assigned a BBB- long-term issuer default rating to ROIC with a stable outlook.

According to Fitch’s published report, the rating and outlook reflect ROIC’s high-quality, grocery-anchored shopping center portfolio located in densely populated, high barrier-to-entry west coast U.S. markets. Additionally, Fitch stated that ROIC’s best-in-class historical occupancy levels, and investment-grade credit metrics are key factors supporting the rating.

Stuart A. Tanz, President and Chief Executive Officer of Retail Opportunity Investments Corp. stated, “We are pleased to have earned an investment grade rating from Fitch. To achieve this rating and outlook during such an unprecedented time, with the ongoing pandemic, we believe speaks volumes as to the long-term strength and stability of our business, portfolio and balance sheet.”

More information regarding ROIC's rating assignment can be found on Fitch's website at: fitchratings.com.

ABOUT RETAIL OPPORTUNITY INVESTMENTS CORP.

Retail Opportunity Investments Corp. (NASDAQ: ROIC), is a fully-integrated, self-managed real estate investment trust (REIT) that specializes in the acquisition, ownership and management of grocery-anchored shopping centers located in densely-populated, metropolitan markets across the West Coast. As of June 30, 2020, ROIC owned 88 shopping centers encompassing approximately 10.1 million square feet. ROIC is the largest publicly-traded, grocery-anchored shopping center REIT focused exclusively on the West Coast. ROIC is a member of the S&P SmallCap 600 Index and has investment-grade corporate debt ratings from Moody's Investor Services, Standard & Poor’s, and Fitch Ratings, Inc. Additional information is available at: www.roireit.net.

When used herein, the words "believes," "anticipates," "projects," "should," "estimates," "expects," “guidance” and similar expressions are intended to identify forward-looking statements with the meaning of that term in Section 27A of the Securities Act of 1933, as amended, and in Section 21F of the Securities and Exchange Act of 1934, as amended. Certain statements contained herein may constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results of ROIC to differ materially from future results expressed or implied by such forward-looking statements. Information regarding such risks and factors is described in ROIC's filings with the SEC, including its most recent Annual Report on Form 10-K, which is available at: www.roireit.net.

Contact:
Carol Merriman, Investor Relations
858-255-7426
cmerriman@roireit.net

Source: Retail Opportunity Investments Corp.

FAQ

What is Retail Opportunity Investments Corp's stock symbol?

The stock symbol for Retail Opportunity Investments Corp. is ROIC.

What rating did Fitch assign to Retail Opportunity Investments Corp?

Fitch assigned a BBB- long-term issuer default rating to Retail Opportunity Investments Corp.

What factors contributed to ROIC's Fitch rating?

Fitch's rating was based on ROIC's grocery-anchored portfolio, high occupancy levels, and strong credit metrics.

When was the Fitch rating assigned to ROIC?

The Fitch rating for Retail Opportunity Investments Corp. was announced on October 14, 2020.

How many shopping centers does ROIC own?

As of June 30, 2020, ROIC owned 88 shopping centers.

What is the focus of Retail Opportunity Investments Corp?

Retail Opportunity Investments Corp. focuses on grocery-anchored shopping centers in densely populated West Coast markets.