Moody’s stabilizes Store Capital outlook

Moody's Investors Service said it affirmed Store Capital LLC's senior unsecured ratings and issuer rating at Baa3 and changed the outlook to stable from negative.

“The change in outlook to stable reflects Store's reduction in overall leverage and secured debt levels following its December 2023 refinancing. Moody's expects that Store will maintain leverage at or below existing levels as it executes strategic growth, supported by continued equity capital contributions from its sponsors,” the agency said in a press release.

Moody's said it forecasts the REIT to reduce leverage and keep it “within its targeted range of 5.5x—6x as it executes its strategy of acquiring single-tenant properties via sale-leaseback transactions.”

© 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.