Trending...
- The Story of John Finding a Pair of Sunglasses That Comfortably Fit His Watermelon Size Head
- New Rochelle: North Ave Bridge - UPDATE
- PROG SHAREHOLDER ACTION REMINDER: Securities Litigation Partner James (Josh) Wilson Encourages Investors Who Suffered Losses Exceeding $50,000 In PROG To Contact Him Directly To Discuss Their Options
Issuer Credit Rating and Unsecured Notes Upgraded with Stable Outlook
NEW YORK, Jan. 23, 2023 /PRNewswire/ -- W. P. Carey Inc. (W. P. Carey, NYSE: https://www.prnewswire.com/news-releases/#finan..." rel="nofollow external noopener">WPC), a leading net lease REIT, announced today that S&P Global Ratings (S&P) has upgraded the company's issuer credit rating and the issue-level rating on its unsecured notes from BBB with a positive outlook, to BBB+ with a stable outlook.
In support of its upgrade, S&P referenced numerous positive attributes of the company centered on its large well-diversified portfolio and leverage neutral approach to funding external growth, in particular highlighting the stability and quality of its cash flow streams. Furthermore, S&P identified several competitive advantages to peers, including W. P. Carey's inflation-based rent escalators and overweight to property types expected to outperform in a recessionary environment.
More on Nyenta.com
"We are pleased to learn that S&P has upgraded W. P. Carey to BBB+, reflecting the quality of our portfolio and sound approach to capital management, as well as highlighting our unique attributes within net lease," said Jason Fox, Chief Executive Officer of W. P. Carey. "This upgrade, which follows a similar action by Moody's, affirms our approach and further supports our ability to fund accretive external growth."
W. P. Carey Inc.
Celebrating its 50th anniversary, W. P. Carey ranks among the largest net lease REITs with an enterprise value of approximately $22 billion and a well-diversified portfolio of high-quality, operationally critical commercial real estate, which includes 1,428 net lease properties covering approximately 175 million square feet and a portfolio of 84 self-storage operating properties, as of September 30, 2022. With offices in New York, London, Amsterdam and Dallas, the company remains focused on investing primarily in single-tenant, industrial, warehouse and retail properties located in the U.S. and Northern and Western Europe, under long-term net leases with built-in rent escalations.
www.wpcarey.com
More on Nyenta.com
This press release may contain forward-looking statements within the meaning of U.S. Federal securities laws. The statements of Mr. Fox are examples of forward-looking statements. A number of factors could cause W. P. Carey's actual results, performance or achievement to differ materially from those anticipated. Among those risks, trends and uncertainties are the general economic climate, including the continuing impact of the COVID-19 pandemic; the supply of and demand for commercial properties; interest rate levels; and other risks associated with the acquisition and ownership of properties, including risks that the tenants will not pay rent, or that costs may be greater than anticipated. For further information on factors that could impact W. P. Carey, reference is made to its filings with the U.S. Securities and Exchange Commission.
Institutional Investors:
Peter Sands
1 (212) 492-1110
[email protected]
Individual Investors:
W. P. Carey Inc.
1 (212) 492-8920
[email protected]
Press Contact:
Anna McGrath
1 (212) 492-1166
[email protected]
SOURCE W. P. Carey Inc.
NEW YORK, Jan. 23, 2023 /PRNewswire/ -- W. P. Carey Inc. (W. P. Carey, NYSE: https://www.prnewswire.com/news-releases/#finan..." rel="nofollow external noopener">WPC), a leading net lease REIT, announced today that S&P Global Ratings (S&P) has upgraded the company's issuer credit rating and the issue-level rating on its unsecured notes from BBB with a positive outlook, to BBB+ with a stable outlook.
In support of its upgrade, S&P referenced numerous positive attributes of the company centered on its large well-diversified portfolio and leverage neutral approach to funding external growth, in particular highlighting the stability and quality of its cash flow streams. Furthermore, S&P identified several competitive advantages to peers, including W. P. Carey's inflation-based rent escalators and overweight to property types expected to outperform in a recessionary environment.
More on Nyenta.com
- Learn Window Tinting in Buffalo New York - Tint Academy USA/CANADA
- SILVERGATE SHAREHOLDER ACTION REMINDER: Securities Litigation Partner James (Josh) Wilson Encourages Investors Who Suffered Losses Exceeding $100,000 In Silvergate To Contact Him Directly To Discuss Their Options
- 3DMyRental Launches Professional 3D Floor Plan Services for Airbnb Hosts: A Game-Changing Solution for Property Rentals
- Best Online End-Of-Season Clearance Sale at Sunber Hair: $56 For A Lace Wig
- UNice Hair Partners With Awin Affiliate Marketing Network To Accelerate Business Growth
"We are pleased to learn that S&P has upgraded W. P. Carey to BBB+, reflecting the quality of our portfolio and sound approach to capital management, as well as highlighting our unique attributes within net lease," said Jason Fox, Chief Executive Officer of W. P. Carey. "This upgrade, which follows a similar action by Moody's, affirms our approach and further supports our ability to fund accretive external growth."
W. P. Carey Inc.
Celebrating its 50th anniversary, W. P. Carey ranks among the largest net lease REITs with an enterprise value of approximately $22 billion and a well-diversified portfolio of high-quality, operationally critical commercial real estate, which includes 1,428 net lease properties covering approximately 175 million square feet and a portfolio of 84 self-storage operating properties, as of September 30, 2022. With offices in New York, London, Amsterdam and Dallas, the company remains focused on investing primarily in single-tenant, industrial, warehouse and retail properties located in the U.S. and Northern and Western Europe, under long-term net leases with built-in rent escalations.
www.wpcarey.com
More on Nyenta.com
- automotiveMastermind Integrates with DealerSocket to Improve Efficiency for Dealership Sales Teams
- Rochester: Statement from Mayor Malik D. Evans and Police Chief David Smith Regarding Body Worn Camera Footage from Memphis, Tenn.
- BIOVENTUS SHAREHOLDER ACTION REMINDER: Securities Litigation Partner James (Josh) Wilson Encourages Investors Who Suffered Losses Exceeding $100,000 In Bioventus To Contact Him Directly To Discuss Their Options
- Archivirex Set to Release Highly Anticipated EDM Album Titled "Neon Purple Dusk"
- GENERAC DEADLINE ALERT: Bragar Eagel & Squire, P.C. Reminds Investors that a Class Action Lawsuit Has Been Filed Against Generac Holdings, Inc. and Encourages Investors to Contact the Firm
This press release may contain forward-looking statements within the meaning of U.S. Federal securities laws. The statements of Mr. Fox are examples of forward-looking statements. A number of factors could cause W. P. Carey's actual results, performance or achievement to differ materially from those anticipated. Among those risks, trends and uncertainties are the general economic climate, including the continuing impact of the COVID-19 pandemic; the supply of and demand for commercial properties; interest rate levels; and other risks associated with the acquisition and ownership of properties, including risks that the tenants will not pay rent, or that costs may be greater than anticipated. For further information on factors that could impact W. P. Carey, reference is made to its filings with the U.S. Securities and Exchange Commission.
Institutional Investors:
Peter Sands
1 (212) 492-1110
[email protected]
Individual Investors:
W. P. Carey Inc.
1 (212) 492-8920
[email protected]
Press Contact:
Anna McGrath
1 (212) 492-1166
[email protected]
SOURCE W. P. Carey Inc.
Filed Under: Business
0 Comments
Latest on Nyenta.com
- Flawless Torres ft. Diamonique x Sean Kingston Releases "Lets Go" on 1/27/23!
- Blackstone Secured Lending Announces Fourth Quarter and Full Year 2022 Earnings Release and Conference Call
- RADIPLY RISING RADIO STATION "POWER RADIO NATION" IS HELPING BUSINESSES THRIVE IN 2023! USA - English USA - English USA - English
- We're In Paris Is Sidow Sobrino's Newly Released Song and Video
- Rochester: Motorist Advisory - Corinthian St. Downtown to Close Saturday and Sunday
- ESS ALERT: Bragar Eagel & Squire, P.C. Announces that a Class Action Lawsuit Has Been Filed Against ESS Tech, Inc. and Encourages Investors to Contact the Firm
- PROG SHAREHOLDER ACTION REMINDER: Securities Litigation Partner James (Josh) Wilson Encourages Investors Who Suffered Losses Exceeding $50,000 In PROG To Contact Him Directly To Discuss Their Options
- BNY Mellon Alcentra Global Credit Income 2024 Target Term Fund, Inc. Declares Monthly Distribution
- Abusive Russian to face Pro Wrestling Legend!
- Goldman Sachs x Robin Hood Inaugural Rising Leaders Forum Attracts Nearly 300 Young Investors to Chart Philanthropic Impact
- Jim Wilson, Top Notch Realtor in waterfront and beach properties in Redington, Redington Shores, and North Redington Beach, FLorida
- New Rochelle: Resident Input Wanted on Affordable Housing and Community Development Priorities
- Multi #1 International Best-Selling Author Jennifer S. Wilkov Announces the 2023 April Speak Up Women Conference and Call For Speakers
- Equinor and bp Bid for Third New York Offshore Wind Solicitation
- SEC EDGAR Form 13F Filing - Cost-effective Easy-to-use Self-Service Web Portal for Investment Managers and Financial Advisors
- ROSEN, LEADING TRIAL ATTORNEYS, Encourages Gaia, Inc. Investors to Secure Counsel Before Important Deadline in First Filed Securities Class Action Initiated by the Firm - GAIA
- The BuildESG Membership Expands Features to Include Benchmarking of Private Equity and Venture Capital Firms' ESG Programs
- Cascade Asset Management Releases its 9th Annual IT Asset Disposition Benchmarking Report
- New AI Tool Makes Speedy Gene-Editing Possible
- New Rochelle: Paper Collection Reminder