Moody’s rates Ladder Capital notes Ba3

Moody's Investors Service said it assigned a Ba3 rating to the $500 million senior unsecured notes due 2022 co-issued by Ladder Capital Finance Holdings LLLP and Ladder Capital Finance Corp.

The transaction has no effect on the Ba2 corporate family rating of Ladder Capital Corp., parent of the co-issuers.

The outlook is stable.

Moody’s said the Ba3 rating assigned to the senior notes reflects Ladder's Ba2 credit profile and the notes' relative priority in Ladder's capital structure. The notes will be guaranteed on a senior unsecured basis by the company and by certain domestic subsidiaries of the issuers.

Ladder expects to use the transaction proceeds to redeem remaining amounts outstanding on the co-issuers' notes maturing in October 2017, to pay offering expenses and for general corporate purposes.

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