10:09 AM EDT, 06/10/2024 (MT Newswires) -- Morningstar DBRS said Monday that it changed First Capital Real Estate Investment Trust's (FCR-UN.TO) trends to "Positive" from "Stable" and confirmed the issuer rating and senior unsecured debentures rating at "BBB."

The rating agency said the "Positive" trends reflect First Capital's improvement in its financial risk assessment metrics.

"The credit ratings reflect First Capital's strong operating results in First Capital's high-quality, grocery-anchored and mixed-use properties in neighborhoods with strong demographics and the Trust's continued progress on high grading its portfolio through its ongoing redevelopment/development initiatives," the rating agency said.

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