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Stock impact report

Safehold Receives Credit Ratings Upgrade to A- from Fitch [Yahoo! Finance]

Safehold Inc. New (SAFE) 
Last safehold inc. new earnings: 4/23 07:30 am Check Earnings Report
Company Research Source: Yahoo! Finance
today that Fitch Ratings ("Fitch") has upgraded its credit ratings on the Company to A- from BBB+, with a stable outlook. Fitch is also assigning an A- rating and stable outlook to the Company's operating subsidiary, Safehold GL Holdings LLC. (PRNewsfoto/Safehold) "This ratings upgrade is a strong result for the Company, and we appreciate Fitch's recognition of the significant steps we have taken to build a best-in-class credit profile, emphasizing high quality assets, stable funding sources and conservative leverage," said Brett Asnas, Chief Financial Officer. "We expect having 'A' ratings from two major agencies will drive better cost and access to capital, benefitting both shareholders and customers." Fitch cited the rationale behind the ratings upgrade in their report: "The upgrade reflects SAFE's focus on the relatively low-risk ground lease asset class, characterized by growing, long-dated revenue streams and significant overcollateralization; expanded use of unsecured deb Show less Read more
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