Moody’s turns Safehold view to positive

Moody’s said it revised its outlook for Safehold Inc. and Safehold Operating Partnership LP to positive from stable and affirmed its Baa1 ratings.

The outlook revision follows the announcement that Safehold and iStar, rated Ba2 and on review for upgrade, agreed to combine and focus on the ground lease industry, Moody’s said.

The combination is expected to close in the late fourth quarter of 2022 or the first quarter of 2023, subject to the approval of iStar and Safehold shareholders.

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