#United States #New York #Fitch Ratings #Safehold #A-

Safehold's Credit Rating Upgrade to A-

In a remarkable development for the real estate market, Safehold Inc. (NYSE: SAFE) has officially announced that Fitch Ratings has elevated its credit rating from BBB+ to A-. This upgrade, coupled with a stable outlook, reflects Safehold's significant progress in strengthening its credit profile. The news comes as a testament to the company's ongoing commitment to prudent financial management and operational excellence.

Brett Asnas, Chief Financial Officer of Safehold, commented on the upgrade, expressing gratitude for Fitch's acknowledgment of the hard work the company has put in. Asnas noted, "This ratings upgrade is a strong result for the Company, and we appreciate Fitch's recognition of the significant steps we have taken to build a best-in-class credit profile, emphasizing high quality assets, stable funding sources, and conservative leverage."

The assessment by Fitch Ratings highlighted several key factors that contributed to this favorable rating change. The agency pointed to Safehold's concentration on the relatively low-risk ground lease asset class. This sector is characterized by steady, long-term revenue streams and notable over-collateralization, ensuring financial stability even in fluctuating markets. Moreover, the increasing use of unsecured debt as part of Safehold's total debt portfolio has bolstered its financial position.

Fitch also acknowledged the company’s diversified portfolio, marked by strong asset quality, low leverage, and solid dividend coverage. These attributes are underscored by an experienced management team that has consistently delivered results. The combination of these elements positions Safehold favorably in an increasingly competitive market landscape, offering a strategic advantage that can lead to enhanced shareholder returns and greater customer satisfaction.

Safehold is known for revolutionizing real estate ownership, having pioneered the modern ground lease industry in 2017. The company facilitates high-quality property owners in unlocking the full potential of the land beneath their buildings. From multifamily homes to industrial and commercial properties, Safehold's innovative approach enables property owners to achieve higher returns while mitigating associated risks.

As a real estate investment trust (REIT), Safehold aims to deliver safe and growing income along with long-term capital appreciation for its shareholders. The significance of the recent credit rating upgrade cannot be understated; it is expected to improve the company’s borrowing costs and capital access, benefiting both stakeholders and the broader customer base.

With this new credit standing, Safehold is poised to reinforce its position in the real estate market, navigating future opportunities with enhanced financial backing. Investors and customers alike can look forward to the positive impacts this upgraded rating will have on the company’s operational capabilities and market presence.

For additional insights and updates about Safehold's operations and financial strength, interested parties are encouraged to visit the company's official website at Safehold Inc..

This news of the credit rating upgrade signifies not just a milestone for Safehold but also a strategic shift in the realm of real estate investments as the company continues to build on its legacy of transforming property ownership into a bolder and more lucrative venture.