Kite Realty Group Trust Upgraded by Moody’s to Baa2 with Stable Outlook

INDIANAPOLIS, Feb. 26, 2024 (GLOBE NEWSWIRE) -- Kite Realty Group Trust (NYSE: KRG) announced today that Moody’s Investors Service (“Moody’s”) upgraded the Company’s corporate credit rating to Baa2 from Baa3 and maintained a stable rating outlook.

In its public announcement on the matter, Moody’s cited “Kite Realty’s Baa2 ratings reflect its diversified portfolio of open-air retail properties, resilient operating cash flows from its grocery-anchored centers, moderate leverage metrics, strong fixed charge coverage, and sound liquidity” and noted “the REIT’s capital strategy is prudent with modest total leverage, low secured leverage, and a strong coverage ratio.”

About Kite Realty Group Trust

Kite Realty Group Trust (NYSE: KRG) is a real estate investment trust (REIT) headquartered in Indianapolis, IN that is one of the largest publicly traded owners and operators of open-air shopping centers and mixed-use assets. The Company’s primarily grocery-anchored portfolio is located in high-growth Sun Belt and select strategic gateway markets. The combination of necessity-based grocery-anchored neighborhood and community centers, along with vibrant mixed-use assets makes the KRG portfolio an ideal mix for both retailers and consumers. Publicly listed since 2004, KRG has nearly 60 years of experience in developing, constructing and operating real estate. Using operational, investment, development, and redevelopment expertise, KRG continuously optimizes its portfolio to maximize value and return to shareholders. As of December 31, 2023, the Company owned interests in 180 U.S. open-air shopping centers and mixed-use assets, comprising approximately 28.1 million square feet of gross leasable space. For more information, please visit kiterealty.com.

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