Moody's assigns CubeSmart preferreds Ba2 rating

Moody's Investors Service said it affirmed CubeSmart's Baa3 issuer rating and has assigned a prospective Ba2 rating to CubeSmart's preferred stock now being marketed.

The outlook is stable.

In accordance with Moody's notching practices, the preferred stock ratings for REITs, which do not have outstanding unsecured bonds with the standard or close to standard REIT covenants, will be two notches below the senior unsecured rating.

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