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S&P lifts American Realty
Standard & Poor's said it raised its corporate credit rating on American Realty Capital Trust Inc. to BB from B+ and removed the rating from Creditwatch with positive implications.
The outlook is stable.
"The upgrade reflects improved financial flexibility, reduced overhead, a bolstered competitive position, and strengthened coverage metrics," said credit analyst Eugene Nusinzon.
"These improvements follow the company's recent internalization of management, listing on the Nasdaq and capital markets activity."
The stable outlook reflects its view that core cash flow will cover all fixed charges, including the common dividend, the agency stated.
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