Moody’s gives Baa2 to Sovran Acquisition

Moody's Investors Service said it assigned a Baa2 issuer rating to Sovran Acquisition LP.

The outlook is stable.

Moody’s said the Baa2 issuer rating reflects Sovran's solid credit profile, supported by modest leverage and a capital structure consisting of mostly unsecured debt, with the exception of one encumbered asset with a $2 million mortgage.

The rating also reflects Sovran's high fixed-charge coverage at 5.6 times as of 3Q15, which stands among the best at the Baa2 rating level.

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