11:03 AM EDT, 09/12/2024 (MT Newswires) -- Kimco Realty's ( KIM ) rating outlook was upgraded to positive from stable by S&P Global's ( SPGI ) rating unit, the company and the rating agency said.

This reflects the expectation for Kimco ( KIM ) to achieve solid operating performance for the next two years, driven by strong retail trends, high occupancy rates, positive leasing results, and potential gains from new properties acquired from RPT, S&P Global Ratings said Wednesday.

S&P Global Ratings also affirmed its 'BBB+' issuer credit rating on Kimco ( KIM ), as well as its 'BBB+' and 'BBB-' issue-level ratings on the company's unsecured notes and preferred stock, respectively.

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