DBRS gives BB to SCF preferreds

DBRS said it has a BB provisional rating to the series A cumulative perpetual preferred shares to be issued by SCF Preferred Equity, LLC.

“Consistent expansion in earnings with appropriate returns, while maintaining sound credit and asset performance and balance sheet leverage below 5x, would result in an upgrade in the ratings. A significant deterioration in the Company's credit or asset performance, weakening earnings generation, or a reduced cushion relative to its leverage covenant, would lead to a downgrade,” DBRS said in a press release.

The proceeds will be used for general corporate purposes.

The trend is stable.

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