NEW YORK--(BUSINESS WIRE)-- Fitch Ratings has published a report regarding the liquidity profiles of U.S. equity real estate investment trusts (REITs), projecting that the median liquidity coverage ratio for selected U.S. equity REITs is 1.3 times (x) for the period from Oct. 1, 2011 to Dec. 31, 2013. In the throes of economic turbulence, median liquidity coverage increased from 1.1x for the period July 1, 2011 to Dec. 31, 2013.

REIT credit spreads have tightened moderately since 2011 year-to-date peak spreads in early October. After a new issuance drought during much of August through October, several large-capitalization REITs across various property sectors priced unsecured bond offerings in November, spanning the credit rating spectrum. However, in conjunction with commitment size increases for REIT unsecured revolving lines of credit and the issuance slowdown in the bond market, REITs have ramped up utilization of such revolving credit facilities.

The report is titled, '3Q11 U.S. Equity REIT Liquidity Update: New Issuance Drought Has a Limited Impact' and is available at www.fitchratings.com.

Additional information is available at 'www.fitchratings.com'.

Applicable Criteria and Related Research:

--'Corporate Rating Methodology', Aug. 12, 2011;

--'Criteria for Rating U.S. Equity REITs and REOCs', March 15, 2011.

Applicable Criteria and Related Research: 3Q11 U.S. Equity REIT Liquidity Update: New Issuance Drought Has a Limited Impact

http://www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=657712

Corporate Rating Methodology

http://www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=647229

Criteria for Rating U.S. Equity REITs and REOCs

http://www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=610687

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KEYWORDS:   United States  North America  New York

INDUSTRY KEYWORDS:   Professional Services  Banking

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