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NEW YORK, July 28 /PRNewswire-FirstCall/ -- iStar Financial Inc.
(NYSE: SFI), announced that Standard & Poor's has upgraded iStar Asset
Services' commercial primary servicer rating to "strong," its highest level.
iStar Asset Services Inc., a subsidiary of iStar Financial Inc., provides
asset management and loan servicing for the structured finance portfolio of
iStar Financial and other third party institutional lenders. Timothy J.
O'Connor, iStar Financial's executive vice president and chief operating
officer, commented, "We are very pleased with S&P's rating action. Currently,
only six of the 31 commercial primary servicers rated by S&P have reached this
top ratings level."
* * *
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, mezzanine and subordinated
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
innovative and value-added 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, or Erin C. Gatewood, Associate, Investor
Relations, all of iStar Financial Inc., +1-212-930-9400/
/Web site: http://www.istarfinancial.com /
CO: iStar Financial Inc.
ST: New York
IN: FIN RLT
-- NYM158 --
8077 07/28/2003 17:02 EDT http://www.prnewswire.com