OAK BROOK, Ill., Oct. 21, 2014 /PRNewswire/ -- Retail Properties of America, Inc. (NYSE: RPAI or the "Company") announced today that it was assigned a BBB- corporate credit rating from Standard and Poor's Ratings Services ("S&P") with a stable outlook. S&P indicated in their announcement that the rating reflects RPAI's measured investment and operating strategy, and strengthening portfolio fundamentals.

"We are pleased with today's announcement of our second investment grade credit rating, which is a strong acknowledgement of the transformation of the Company's balance sheet over the last three years, as we have substantially deleveraged the portfolio, improved coverage metrics and grown our now sizeable unencumbered asset base," stated Angela Aman, executive vice president, chief financial officer and treasurer. "Access to the public unsecured bond market increases the Company's flexibility as we continue to enhance our credit profile and work to reduce our overall cost of capital."

S&P has assigned a BBB- corporate credit rating to RPAI and to its senior unsecured shelf registration, under which the Company may issue senior unsecured public debt in the future. More information regarding RPAI's rating assignment can be found on S&P's website at www.standardandpoors.com.

The Company also has an investment grade credit rating from Moody's Investors Service of (P)Baa3 with a stable outlook on its senior unsecured shelf registration.

About RPAI
Retail Properties of America, Inc. is a REIT and is one of the largest owners and operators of high quality, strategically located shopping centers in the United States.  As of June 30, 2014, the Company owned 224 retail operating properties representing 31.8 million square feet.  The Company is publicly traded on the New York Stock Exchange under the ticker symbol RPAI.  Additional information about the Company is available at www.rpai.com.

Contact Information
Michael Fitzmaurice, VP - Finance
Retail Properties of America, Inc.        
(630) 634-4233

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SOURCE Retail Properties of America, Inc.