NEW YORK CITY-As it prepares to finalize two mergers that will turn it into the second largest publicly traded REIT in the net lease space, American Realty Capital Properties has been assigned a Baa3 investment grade corporate credit rating by Moody’s Investor Service with a “stable” outlook. This outlook reflects Moody’s viewpoint that ARCP will continue to grow successfully, improve credit metrics and maintain adequate liquidity even as its pending mergers with CapLease and American Realty Capital Trust IV will bumps up its enterprise value from the current $3 billion to $10 billion.

Moody’s is basing its investment-grade rating on ARCP’s portfolio of well diversified, well-occupied, freestanding, single-tenant, triple-net leased properties throughout the US and Puerto Rico, which are leased to a high number of investment-grade tenants. Furthering the rating are the company’s manageable lease expiration and debt maturity schedules, and sizable pool of unencumbered assets.

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