Moody’s revises Broadstone view to positive

Moody’s Investors Service said it revised Broadstone Net Lease LLC’s outlook to positive from stable and affirmed its ratings, including the Baa3 senior unsecured rating.

“Broadstone's Baa3 senior unsecured rating considers the resiliency of the REIT's diversified triple-net lease portfolio. Since the onset of Covid-19 (Coronavirus), the portfolio has maintained its historically high occupancy levels as well as achieved some of the strongest rent collection rates, reaching approximately 99% on a monthly average between July 2020 through February 2021,” the agency said in a press release.

The positive outlook incorporates an expectation Broadstone will maintain its more conservative financial policy and disciplined approach towards liquidity, Moody’s said.

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