NEW YORK--(BUSINESS WIRE)--Fitch Ratings has affirmed the ratings of Forest City Enterprises, Inc. (NYSE: FCEA, NYSE: FCEB, collectively 'FCE') as follows: --Issuer Default Rating (IDR) at 'BB-'; --Bank revolving credit facility at 'BB-'; --Convertible senior unsecured notes at 'BB-'. The Rating Outlook is Stable. In conjunction with FCE's redemption of all outstanding senior unsecured notes, Fitch has affirmed and withdrawn the senior unsecured notes ratings at 'BB-' as these ratings are no longer considered by Fitch to be relevant to the agency's coverage. KEY RATINGS DRIVERS The affirmation centers on FCE's high leverage and limited unencumbered assets but acknowledges the material...
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