Moody's Upgrades iStar Financial's Stock and Debt Ratings

NEW YORK CITY-The improved ratings are attributed, in part, to the firm's successful integration of two recently acquired firms, the variety of its products and the diversification of its real estate loans by geography and tenant mix.

By John Howe | Updated on January 16, 2001

NEW YORK CITY-The ratings of iStar Financial’s cumulative preferred stock series B, C and D has been raised from b1 to ba3 by Moody’s Investors Service, which has also upgraded its senior unsecured debt to Ba2 from Ba1. This change reflects the firm’s integration of TriNet Corporate Realty and ACRE Partners, which it recently acquired, as well as the firm’s success in lengthening its debt maturity schedule.

iStar, a publicly traded company that is taxed as a real estate investment trust, provides structured real estate financing including senior and junior mortgage debt, corporate and mezzanine lending and corporate net lease financing.

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