NEW YORK, Feb. 7 /PRNewswire-FirstCall/ -- iStar Financial Inc.
(NYSE: SFI), the leading publicly traded finance company focused on the
commercial real estate industry, announced today that Moody's Investors
Service upgraded iStar Financial's senior unsecured credit rating to Baa2 from
Baa3. In addition, Moody's raised the ratings on iStar Financial's Preferred
Stock to Ba1 from Ba2.
Catherine D. Rice, iStar Financial's chief financial officer, stated, "We
are pleased with the positive ratings momentum of the Company and that Moody's
continues to recognize the stability of our asset base, the strength of our
franchise and the depth of our management team. Through a very disciplined
strategy, we have been successful in transitioning to an unsecured funding
model and increasing our unsecured debt capacity, which has substantially
unencumbered our asset base. All of these steps are consistent with our
long-term goals and will enable us to better serve our high-end customer
iStar Financial is the leading publicly traded finance company focused on
the commercial real estate industry. The Company provides custom-tailored
financing to high-end private and corporate owners of real estate nationwide,
including senior and junior mortgage debt, senior and mezzanine corporate
capital, and corporate net lease financing. The Company, which is taxed as a
real estate investment trust, seeks to deliver a strong dividend and superior
risk-adjusted returns on equity to shareholders by providing the highest
quality financing solutions to its customers. Additional information on iStar
Financial is available on the Company's website at
SOURCE iStar Financial Inc.
CONTACT: Catherine D. Rice, Chief Financial Officer, or Andrew C.
Richardson, Executive Vice President - Capital Markets, or Andrew G. Backman,
Vice President - Investor Relations, all of iStar Financial Inc.,