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SAN DIEGO, June 20, 2013 (GLOBE NEWSWIRE) -- Retail Opportunity Investments Corp. (Nasdaq:ROIC) announced today that Standard & Poor's Ratings Services has assigned a BBB- corporate credit rating to ROIC with a stable outlook.
According to the Standard & Poor's report, the rating reflects ROIC's portfolio of well-positioned, well-occupied shopping centers that are located in multiple major markets on the West Coast with high barriers to entry and above average household incomes. Additionally, Standard Poor's noted that ROIC's leverage and coverage metrics are healthy compared to those of similarly rated peers.
Stuart A. Tanz, President and Chief Executive Officer of Retail Opportunity Investments Corp. stated, "We are pleased to have earned an investment grade credit rating from Standard & Poor's. It reflects our long-standing commitment to growing our business prudently while maintaining a strong and flexible balance sheet." Tanz stated further, "Having achieved an investment grade rating from S&P, together with the previously announced rating that we were awarded from Moody's of Baa2, we are well positioned to access the investment grade unsecured debt market going forward. We believe this will enhance our competitive position in the market place as we continue to pursue opportunities to grow our portfolio."
More information regarding ROIC's rating assignment can be found on Standard & Poor's website at
ABOUT RETAIL OPPORTUNITY INVESTMENTS CORP.
Retail Opportunity Investments Corporation (Nasdaq:ROIC) is a fully integrated, self-managed real estate investment trust. ROIC specializes in the acquisition, ownership and management of necessity-based community and neighborhood shopping centers, anchored by national or regional supermarkets and drugstores. At March 31, 2013, ROIC's property portfolio included 47 shopping centers encompassing approximately 5.0 million square feet. Additional information is available at:
When used herein, the words "believes," "anticipates," "projects," "should," "estimates," "expects," 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, performance or achievements of ROIC to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors include, among others, risks associated with the timing of and costs associated with property improvements, financing commitments and general competitive factors. Additional information regarding these and other factors is described in ROIC's filings with the SEC, including its most recent Annual Report on Form 10-K.