S&P Global Ratings affirmed iStar Inc.'s issuer credit and senior secured and unsecured debt ratings at BB- and revised its outlook to positive from stable.
The positive outlook takes into account the company's reduction in leverage and its plans to further cut noncore land and operating properties.
The ratings also mirror the company's unique franchise, concentration in higher-risk commercial real estate, and its largely long-term unsecured debt profile and limited near-term maturities, which support its solid funding and liquidity.
This S&P Global Market Intelligence news article may contain information about credit ratings issued by S&P Global Ratings. Descriptions in this news article were not prepared by S&P Global Ratings.
