NEW
YORK, Nov. 7, 2024 /PRNewswire/ -- Safehold Inc.
(the "Company" or "Safehold") (NYSE: SAFE) announced today that
S&P Global Ratings ("S&P") has assigned the Company an
initial credit rating of BBB+ with a positive outlook. S&P is
also assigning a BBB+ rating and positive outlook to the Company's
operating subsidiary, Safehold GL Holdings LLC.
"We are pleased to announce this investment grade rating and
positive outlook from S&P," said Brett Asnas, Chief
Financial Officer. "This outcome reflects the strength of
Safehold's credit profile, driven by strong asset quality, stable
funding strategy and market leading position. We expect this rating
to enable both an improved cost of capital as well as better access
to capital, allowing us to continue serving our customers and
creating long-term value for shareholders."
S&P cited the rationale behind its investment grade rating
in their report: "The ratings reflect Safehold's focus on
high-quality long-term ground leases that return predictable and
contractually growing cash flows over 99 years, its relatively low
leverage, and well diversified funding mix."
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.
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