iStar Announces Corporate Credit Rating Upgrade to BB by Fitch
June 23 2021 - 4:30PM
PR Newswire (US)
NEW YORK, June 23, 2021 /PRNewswire/ -- iStar Inc. (NYSE:
STAR) announced today that Fitch Ratings ("Fitch") has upgraded
iStar's corporate credit rating to BB, from a previous rating of
BB-. Additionally, Fitch upgraded iStar's senior secured debt
rating to BBB- from BB+, unsecured debt rating to BB+ from BB, and
preferred stock rating to B from B-. The rating outlook is
stable.
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iStar Inc. (NYSE: STAR) is focused on reinventing the ground
lease sector, unlocking value for real estate owners throughout the
country by providing modern, more efficient ground leases on
institutional quality properties. As the founder, investment
manager and largest shareholder of Safehold Inc. (NYSE: SAFE), the
creator of the modern ground lease industry, iStar is using its
national investment platform and its historic strengths in finance
and net lease to expand the use of modern ground leases within the
$7 trillion institutional commercial
real estate market. Recognized as a consistent innovator in the
real estate markets, iStar specializes in identifying and scaling
newly discovered opportunities and has completed more than
$40 billion of transactions over the
past two decades. Additional information on iStar is available on
its website at www.istar.com.
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SOURCE iStar Inc.
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