S&P ups Starwood Property Trust

S&P said it raised its ratings on Starwood Property Trust Inc. and its subsidiary Starwood Property Mortgage LLC to BB from BB-. The agency also boosted the ratings by a notch on the company's senior secured and unsecured debt to BB and BB-.

“We raised our ratings on Starwood because the pandemic-related risks that led us to lower the rating at the onset of Covid-19 in March 2020–most notably the threat of sharp asset quality deterioration and margin call pressures–have not and most likely will not come to fruition. Over the past two years, the commercial real estate (CRE) finance company has also performed well, further diversified and grown, and maintained adequate capital and liquidity supported by debt and equity raises,” S&P said in a press release.

The outlook is stable.

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