S&P Global Ratings raised its issuer credit ratings on Kite Realty Group to “BBB” from “BBB-” and its issue-level rating on the company’s unsecured debt to “BBB” from “BBB-.” Kite has further deleveraged its balance sheet following the merger with RPAI, said S&P, which expects its debt to EBITDA will remain in the “low-5x area” on a sustained basis.
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