S&P ups Vereit view to stable

Standard & Poor’s said it affirmed its BB corporate credit and BB+ issue-level ratings on Vereit Inc. and its operating partnership, ARC Properties Operating Partnership LP. S&P revised its outlook on the company to stable from negative.

“Our outlook revision follows the company’s second-quarter earnings release and business plan update. Vereit released a four-pronged strategy with a focus on portfolio enhancement, restoring the brand value of Cole Capital, reducing debt and improving the balance sheet, and establishing a sustainable dividend,” said S&P’s Jaime Gitler in a news release. “We believe the new management team is taking appropriate steps to stabilize a volatile situation and restore the confidence of market participants.”

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.