Research Update: iStar Financial Inc. Jul 02
- ID: 2086145
- July 2002
- Standard & Poors
Standard & Poor's Ratings Services affirmed its ratings on iStar Financial Inc. and its wholly owned subsidiary, TriNet Corporate Realty Trust Inc. Approximately $800 million of debt and preferred stock is affected. The outlook was changed to positive from stable. The outlook revision reflects the company's strong asset-quality performance, demonstrated through both a weak economic environment and a difficult real estate market; substantial capitalization of $1.9 billion in equity; and continued efforts to term out its debt structure. iStar has continued to reduce marginally the credit risk in its credit tenant leasing (CTL) portfolio, and its mortgage portfolio has performed well since Sept. 11, 2001, and through the current weak economic environment and volatile real estate market. Nevertheless, the ratings...
Companies mentioned in this report are:
- iStar Inc.
- TriNet Corporate Realty Trust Inc.
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Product Type: Research Update
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