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Stock Market & Financial Investment News

News Breaks
October 5, 2012
05:14 EDTSFIiStar Financial announces Moody's credit ratings upgrades
iStar Financial announced that Moody's Investors Service upgraded iStar's corporate family rating to B2 from B3. In addition, Moody's assigned a B1 rating to the company's proposed $1.8B senior secured term loan and upgraded the A-1 and A-2 tranches of the company's 2012 senior secured facilities to Ba3 and B1, respectively. Moody's also raised the ratings on iStar's senior unsecured credit rating to B3 as well as all series of iStar's Preferred Stock to Caa2. The company also announced that Standard & Poor's affirmed iStar's long-term issuer credit rating of B+, and at the same time assigned a BB- rating on the proposed senior secured term loan.
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