NEW
YORK, Oct. 2, 2023 /PRNewswire/ -- Safehold Inc.
(NYSE: SAFE) announced today that Moody's Investors Services has
upgraded its credit ratings on the Company to A3 from Baa1, with a
stable outlook.
"Today's announcement is a significant milestone for the
Company, highlighting the strength of the franchise and credit
profile built over the last six years as the leader of the modern
ground lease industry," said Jay
Sugarman, Chairman and Chief Executive Officer. "We expect
this ratings upgrade will positively impact both our cost and
access to capital, ultimately improving our ability to provide
commercial real estate operators access to more efficiently priced
capital, and further scale our market leading position."
Moody's cited the rationale behind the ratings upgrade in their
report: "The ratings upgrade was based on Safehold's reduced
governance risks following the recent merger and the company's
solid financial performance, including strong asset quality and
conservative leverage."
About Safehold:
Safehold Inc. (NYSE: SAFE) is revolutionizing real estate
ownership by providing a new and better way for owners to unlock
the value of the land beneath their buildings. Having created the
modern ground lease industry in 2017, Safehold continues to help
owners of high quality multifamily, office, industrial,
hospitality, student housing, life science and mixed-use properties
generate higher returns with less risk. The Company, which is taxed
as a real estate investment trust (REIT), seeks to deliver safe,
growing income and long-term capital appreciation to its
shareholders. Additional information on Safehold is available on
its website at www.safeholdinc.com.
Forward-Looking Statements
The statements contained in this release that are not purely
historical are forward-looking statements, including statements
regarding expectations, hopes, intentions or strategies regarding
the future. Forward-looking statements are based on Safehold's
management's beliefs, as well as assumptions made by, and
information currently available to, them. Forward-looking
statements can be identified by words such as "anticipates,"
"intends," "plans," "seeks," "believes," "estimates," "expects" and
similar references to future periods, or by the inclusion of
forecasts or projections. Because such statements are based on
expectations as to future financial and operating results and are
not statements of fact, actual results may differ materially from
those projected. It is not possible to predict or identify all risk
factors. We undertake no obligation to update any forward-looking
statements, whether as a result of new information, future events
or otherwise.
Company Contact:
Pearse Hoffmann
Senior Vice President
Capital Markets & Investor Relations
T 212.930.9400
E investors@safeholdinc.com
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SOURCE Safehold