Ladder Capital Corp Announces Ratings Upgrade and Improved Outlook from S&P
Ladder Capital Corp (“Ladder” or the “Company”) (NYSE: LADR) announced a credit ratings upgrade and improved outlook by S&P Global (“S&P”) earlier today. Ladder now has a long-term senior unsecured rating of BB- from S&P.
S&P eliminated the notch between Ladder’s bond and corporate family ratings. S&P upgraded the long-term senior unsecured rating of the Company to BB- from B+ and affirmed the Company’s long-term corporate family rating of BB-. According to S&P, the credit ratings upgrade is based, in part, on Ladder’s reduction of recourse secured debt over the past year. The upgrade follows S&P’s announcement earlier this week revising its outlook on Ladder to stable.
About Ladder
Ladder Capital Corp is an internally-managed commercial real estate investment trust with
Ladder originates and invests in a diverse portfolio of commercial real estate and real estate-related assets, focusing on senior secured assets. Our investment activities include: (i) our primary business of originating senior first mortgage fixed and floating rate loans collateralized by commercial real estate with flexible loan structures; (ii) investing in investment grade securities secured by first mortgage loans on commercial real estate; and (iii) owning and operating commercial real estate, including net leased commercial properties.
Founded in 2008, and led by Brian Harris, the Company’s Chief Executive Officer, Ladder is run by a highly experienced management team with extensive expertise in all aspects of the commercial real estate industry, including origination, credit, underwriting, structuring, capital markets and asset management. Members of Ladder’s management and board of directors are highly aligned with the Company’s investors, owning over
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