ACRES Commercial Realty (NYSE: ACR) received published credit ratings from KBRA, with a Stable outlook across the rated instruments. KBRA published a BB issuer rating, BBB- senior secured debt rating and BB- preferred stock rating, initially assigned privately on August 5, 2026.
ACRES acquired ACRES Capital on August 6, 2026, adding investment management operations and diversifying revenue. The internalization coincided with a $55 million increase in its Barings secured loan to $185 million and issuance of $200 million in secured notes. Note proceeds were intended to refinance $150 million of maturing senior notes, with the balance for general corporate purposes. KBRA cited small scale, concentrated commercial real estate exposure and volatile earnings as constraints; its projected debt/EBITDA is elevated at 10.5x for 2026.