Fitch Ratings Revises Safehold's Outlook from Stable to Positive

Rhea-AI Summary

Safehold Inc. (NYSE: SAFE) announced on Feb. 1, 2023, that Fitch Ratings has affirmed its unsecured corporate credit rating at BBB+ and upgraded its outlook from Stable to Positive. This recognition reflects the strong credit characteristics of the business as it continues to expand its ground lease platform efficiently. Safehold, a pioneer in the modern ground lease industry, aims to unlock land value for owners of various property types, including multifamily and mixed-use properties. The company operates as a REIT, providing safe income and long-term capital appreciation to its shareholders.

Positive

• Fitch Ratings affirmed credit rating at BBB+.
• Outlook revised from Stable to Positive, indicating improved financial health.
• Recognition of strong credit characteristics enhances investor confidence.

Negative

• None.

News Market Reaction – SAFE

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In the trading session that priced this news, SAFE gained 1.06%, reflecting a mild positive market reaction.

Data tracked by StockTitan Argus on the day of publication.

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NEW YORK, Feb. 1, 2023 /PRNewswire/ -- Safehold Inc. (NYSE: SAFE) announced today that Fitch Ratings has affirmed Safehold's unsecured corporate credit rating at BBB+ and has revised the rating outlook from Stable to Positive.

"We are pleased with the recognition of the strong credit characteristics of the business as we continue to scale our ground lease platform with the most efficient capital for our stakeholders," said Brett Asnas, Chief Financial Officer.

Safehold Inc. (NYSE: SAFE) is revolutionizing real estate ownership by providing a new and better way for owners to unlock the value of the land beneath their buildings. Having created the modern ground lease industry in 2017, Safehold continues to help owners of high quality multifamily, office, industrial, hospitality, student housing, life science and mixed-use properties generate higher returns with less risk. The Company, which is taxed as a real estate investment trust (REIT) and is managed by its largest shareholder, iStar Inc., seeks to deliver safe, growing income and long-term capital appreciation to its shareholders. Additional information on Safehold is available on its website at www.safeholdinc.com.

Company Contact:
Pearse Hoffmann
Senior Vice President
Capital Markets & Investor Relations
T 212.930.9400
E investors@safeholdinc.com 

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SOURCE Safehold

FAQ

What is Safehold's current credit rating?

Safehold's current credit rating is BBB+ as affirmed by Fitch Ratings.

What change did Fitch Ratings make to Safehold's outlook?

Fitch Ratings revised Safehold's outlook from Stable to Positive.

When did Safehold announce the credit rating affirmation?

Safehold announced the credit rating affirmation on Feb. 1, 2023.

What is Safehold's approach to real estate ownership?

Safehold provides a new way for owners to unlock the value of the land beneath their buildings.

How does Safehold generate returns for its stakeholders?

Safehold helps owners of various property types generate higher returns with less risk through its ground lease platform.