| Add to balance / Manage account | User: | Log out |
| Prospect News home > News index > List of issuers C > Headlines for CubeSmart > News item |
S&P upgrades CubeSmart
Standard & Poor's said it raised its corporate credit and senior unsecured ratings on CubeSmart to BBB from BBB-.
The outlook is stable.
"The upgrade acknowledges CubeSmart's improved operating results from a larger, higher-quality portfolio than we initially rated in December 2011. Average occupancy in the same-store portfolio grew 180 basis points year-over-year to 92.3% in the third quarter 2014, while realized annual rent per occupied square foot increased to $14.05 from $13.35 in the prior year. Operating metrics which have historically lagged peers are now much more in line with the group," S&P credit analyst Matthew Lynam said in a news release.
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.