S&P: iStar view to positive

S&P said it revised its outlook on iStar Inc. to positive from stable and affirmed its B+ issuer credit, senior secured and unsecured debt ratings.

“Our outlook revision to positive from stable reflects iStar's declining leverage, improving asset quality and profitability, and progress addressing its debt maturities,” the agency said in a news release.

“However, we believe that how the company addresses upcoming debt maturities, its high- cost preferred stock and additional investment in its net lease joint venture, lends uncertainty as to the company's prospective leverage.”

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