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Moody's rates American Realty notes Baa3
Moody's Investors Service said it assigned a Baa3 rating to the senior unsecured notes being issued by ARC Properties Operating Partnership, LP, the operating subsidiary of American Realty Capital Properties, Inc. (ARCP).
The notes will be fully and unconditionally guaranteed by ARCP.
ARCP's current rating and outlook reflects Moody's expectation that the REIT will grow in a disciplined manner, post the merger with Cole Real Estate Investments, Inc., the agency said.
Moody's believes that ARCP's debut public unsecured bond issuance is a positive step towards diversifying its capital sources and furthering its unsecured debt strategy.
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