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NEW YORK--([ BUSINESS WIRE ])--Fitch Ratings has assigned a 'BBB' rating to the $400 million aggregate principal amount of 5% senior unsecured notes due Jan. 15, 2022 issued by Vornado Realty, L.P. The notes were priced at 99.546% of the principal amount to yield 5.057% to maturity. Vornado Realty, L.P. is the operating partnership of Vornado Realty Trust (NYSE: VNO).

Net proceeds from the offering are estimated to be used for general corporate purposes. Vornado Realty, L.P.'s Issuer Default Rating is 'BBB'. The Rating Outlook is Stable.

For additional information, please refer to Fitch's full rating report titled 'Vornado Realty Trust' dated June 30, 2011 at '[ www.fitchratings.com ]'.

Vornado Realty Trust is a fully-integrated real estate investment trust (REIT). Vornado is one of the largest owners and managers of commercial real estate in the United States with a portfolio of over 100 million square feet, primarily located in the New York City and Washington, DC metropolitan areas. Vornado's core businesses include New York Office Properties, Washington, DC Office Properties, Retail Properties and Merchandise Mart Properties.

Additional information is available at '[ www.fitchratings.com ]'. The ratings above were solicited by, or on behalf of, the issuer, and therefore, Fitch has been compensated for the provision of the ratings.

Applicable Criteria and Related Research:

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

--'Parent and Subsidiary Rating Linkage' (Aug. 12, 2011);

--'Recovery Rating and Notching Criteria for Equity REITs' (May 12, 2011);

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

Applicable Criteria and Related Research:

Corporate Rating Methodology

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

Parent and Subsidiary Rating Linkage

[ http://www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=647210 ]

Recovery Rating and Notching Criteria for Equity REITs

[ http://www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=628490 ]

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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