Moody’s assigns Rexford notes Baa3

Moody’s Investors Service said it assigned a Baa3 rating to Rexford Industrial Realty LP’s inaugural senior unsecured bond offering of $400 million due 2030.

“The Baa3 senior unsecured rating reflects Rexford Industrial’s prudent financial policy supported by its modest use of leverage on an unsecured basis and a strong fixed charge coverage ratio of over 4x,” Moody’s said in a press release.

The company intends to use proceeds to fund strategic acquisitions and development or redevelopment activities and general corporate purposes, including debt repayment.

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