TEXT-Fitch raises Federal Realty Investment Trust ratings
News from Reuters:

Thu Apr 26, 2012 12:35pm EDT

April 26 - Fitch Ratings has upgraded the credit ratings of Federal Realty
Investment Trust (NYSE: FRT) as follows:        
--Issuer Default Rating (IDR) to 'A-' from 'BBB+';      
--Unsecured revolving credit facility to 'A-' from 'BBB+';      
--Senior unsecured notes to 'A-' from 'BBB+';   
--Redeemable preferred shares to 'BBB' from 'BBB-'.     
In addition, Fitch has assigned an 'A-' rating to the company's $  275 million    
senior unsecured term loan.     
The Rating Outlook is Stable.   
The rating actions are driven by the company's prudent balance sheet management         
and the high quality and consistent cash flow streams provided by FRT's         
community shopping centers. Fitch views positively FRT's consistent strategy of         
operating a high-quality retail real estate portfolio with assets located in    
infill locations with strong demographic characteristics, as opposed to engaging        
in speculative development in less mature retail markets. FRT maintains a       
long-term hold strategy with respect to its properties and has successfully     
grown rent revenues through redevelopment activity. This strategy has enabled   
the company to pro...............      continues on Reuters

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Strife-Torn Nigeria Is an Investment Magnet
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Nigerians have been living with high security alerts since attacks by an Islamist militant group, Boko Haram, intensified with a suicide bombing of the United Nations headquarters in Abuja in August. Boko Haram has claimed responsibility for a surge in gun and bomb attacks, including a Christmas Day bombing of a church in an Abuja suburb and multiple blasts on Jan. 20 in the northern city of Kano that killed about 256 people. The group, whose name means “Western education is a sin,” seeks to impose strict Muslim law on the country. The U.S. Embassy in Nigeria warned American citizens on April 17 that Boko Haram may be planning more attacks in the capital.

Yet economic statistics do not portray a country in the grip of a national emergency. Nigerian Eurobonds are so popular that their yield is near a record low. The currency, the naira, is Africa’s second-strongest performer against the dollar this year. The economy is expected to grow 7.1 percent in 2012.

Just as important, foreign and local investors seem unfazed by Boko Haram’s violence. The attacks have been isol…………… continues on BusinessWeek

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