Moody’s rates Ladder Capital CFR Ba2

Moody's Investors Service said it assigned a Ba2 corporate family rating to Ladder Capital Corp. and withdrew the Ba2 corporate family rating of Ladder Capital Finance Holdings LLLP, a Ladder subsidiary.

The outlook is stable.

Moody's said the actions are to align ratings with Ladder's legal organizational and financial reporting structure. Ladder was established in 2013 as the holding company for Ladder Capital Finance to facilitate the consolidated entity's initial public offering. In December 2014, Ladder announced its conversion to a real estate investment trust (REIT), began reporting consolidated financial results and ceased reporting consolidated financial results of Ladder Capital Finance.

Moody's practice is to assign the corporate family rating to the entity highest in the group organizational hierarchy for which consolidated financial reporting is available, the agency said.

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