S&P rates Extra Space Storage BBB

S&P said it assigned a BBB issuer credit rating to Extra Space Storage Inc. and its operating unit Extra Space Storage LP.

The agency also assigned a stable outlook to the company.

“Extra-Space Storage is the second largest U.S.-based self-storage real estate investment trust that has consistently demonstrated solid operating performance and above average profit margin despite increased pockets of supply over the last few years,” it said.

S&P said the outlook is stable because it sees the company continuing to deliver positive operating performance over the next 12-24 months.

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