S&P: Vereit view to positive

S&P said it revised the outlook on Vereit Inc. to positive from stable.

The agency also said it affirmed the company’s BB corporate credit rating.

The outlook revision follows Vereit’s successful execution of some of its key business plans, the agency said.

In August 2015, the company outlined a four-pronged strategy with a focus on portfolio enhancement, restoring the brand value of Cole Capital, reducing debt and improving the balance sheet and establishing a sustainable dividend, S&P said.

Still, there is lack of clarity regarding litigation liabilities related to accounting improprieties identified in October 2014, the agency said.

© 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.