Fitch sees rating Starwood loan BBB-

Fitch Ratings said it assigned an expected BBB- rating to Starwood Property Mortgage, LLC's sustainability term loan B due in 2027.

“The expected sustainability term loan B rating is one notch above SPM's long-term issuer default rating (IDR), reflecting Fitch's expectation for good recovery prospects given strong collateral coverage of the term loan. The facility will represent a senior secured obligation of SPM, ranking pari passu with the existing term loan B,” the agency said in a press release.

The proceeds are expected to be used to repay a portion of the firm's outstanding repurchase facilities.

The outlook is stable.

© 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.