WP Carey gets Baa2 rating with stable outlook from Moody’s
WP Carey has received an investment grade issuer rating of Baa2 with a stable outlook from Moody's Investors Service.
According to the Moody’s report, the rating reflects WPC’s stable cash flows, high occupancy and strong operating performance throughout credit and real estate cycles.
In addition, Moody’s noted WPC’s rigorous underwriting criteria and focus on acquiring mission critical assets.
Trevor Bond, WP Carey’s president and chief executive officer, says: “We are pleased to receive a Baa2 investment grade rating from Moody’s. As a result of our Moody’s rating and our previously announced BBB rating from S&P, we believe we are strongly positioned to access the investment grade unsecured market. Access to unsecured borrowing will help us continue to strengthen our balance sheet and maintain an efficient cost of capital, while diversifying our sources of funding for future growth.”
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