JERICHO, N.Y.--(BUSINESS WIRE)--
Getty Realty Corp. (NYSE:GTY) announced today that it has received an
investment grade rating from Fitch Ratings (“Fitch”). Fitch has assigned
first-time ratings to the company including a Long-Term Issuer Default
Rating (“IDR”) of BBB- with a stable outlook. Fitch has also assigned
BBB- ratings to the company's senior unsecured revolving credit
facility, senior unsecured term loan and senior unsecured notes.
Danion Fielding, Chief Financial Officer of Getty Realty, stated,
“Receiving an investment grade rating of BBB- from Fitch reflects the
meaningful progress and strong execution we have accomplished through
the repositioning of our portfolio over the past few years. When
combined with our acquisition activity, we have grown and diversified
our portfolio from both a tenant and geographic perspective, which is
being reflected in our consistent financial results. We believe this
rating positions Getty to achieve a lower cost of capital over time,
which will better support our plan to create additional shareholder
value.”
Forward-Looking Statements
CERTAIN STATEMENTS CONTAINED HEREIN MAY CONSTITUTE “FORWARD-LOOKING
STATEMENTS” WITHIN THE MEANING OF THE PRIVATE SECURITIES LITIGATION
REFORM ACT OF 1995. WHEN THE WORDS “BELIEVES,” “EXPECTS,” “PLANS,”
“PROJECTS,” “ESTIMATES,” “ANTICIPATES,” “MAY” AND SIMILAR EXPRESSIONS
ARE USED, THEY IDENTIFY FORWARD-LOOKING STATEMENTS. THESE
FORWARD-LOOKING STATEMENTS ARE BASED ON MANAGEMENT’S CURRENT BELIEFS AND
ASSUMPTIONS AND INFORMATION CURRENTLY AVAILABLE TO MANAGEMENT AND
INVOLVE KNOWN AND UNKNOWN RISKS, UNCERTAINTIES AND OTHER FACTORS WHICH
MAY CAUSE THE ACTUAL RESULTS, PERFORMANCE OR ACHIEVEMENTS OF THE COMPANY
TO BE MATERIALLY DIFFERENT FROM ANY FUTURE RESULTS, PERFORMANCE OR
ACHIEVEMENTS EXPRESSED OR IMPLIED BY THESE FORWARD-LOOKING STATEMENTS.
EXAMPLES OF FORWARD-LOOKING STATEMENTS INCLUDE BUT ARE NOT LIMITED TO
STATEMENTS REGARDING THE EXPECTED REDUCTION IN THE COST OF CAPITAL
RESULTING FROM THE INVESTMENT GRADE RATING.
INFORMATION CONCERNING FACTORS THAT COULD CAUSE THE COMPANY’S ACTUAL
RESULTS TO DIFFER MATERIALLY FROM THESE FORWARD-LOOKING STATEMENTS CAN
BE FOUND IN THE COMPANY’S PERIODIC REPORTS FILED WITH THE SECURITIES AND
EXCHANGE COMMISSION. THE COMPANY UNDERTAKES NO OBLIGATION TO PUBLICLY
RELEASE REVISIONS TO THESE FORWARD-LOOKING STATEMENTS TO REFLECT FUTURE
EVENTS OR CIRCUMSTANCES OR REFLECT THE OCCURRENCE OF UNANTICIPATED
EVENTS.
About Getty Realty Corp.
Getty Realty Corp. is the leading publicly-traded real estate investment
trust in the United States specializing in the ownership, leasing and
financing of convenience store and gasoline station properties. As of
December 31, 2017, the Company owned 828 properties and leased 79
properties from third-party landlords in 28 states across the United
States and Washington, D.C.
View source version on businesswire.com: https://www.businesswire.com/news/home/20180503006672/en/
Getty Realty Corp.
Investor Relations, 516-478-5418
ir@gettyrealty.com
Source: Getty Realty Corp.