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Retail Properties of America receives investment grade rating from S&P


Oak Brook, Ill. --Retail Properties of America, Inc. announced that it was assigned a BBB-corporate credit rating from Standard and Poor’s Ratings Services with a stable outlook.

S&P indicated in its announcement that the rating reflects RPAI’s measured investment and operating strategy, and strengthening portfolio fundamentals.

“We are pleased with today’s announcement of our second investment grade credit rating, which is a strong acknowledgement of the transformation of the company’s balance sheet over the last three years, as we have substantially deleveraged the portfolio, improved coverage metrics and grown our now sizeable unencumbered asset base,” said Angela Aman, executive VP, CFO and treasurer. “Access to the public unsecured bond market increases the company’s flexibility as we continue to enhance our credit profile and work to reduce our overall cost of capital.”
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