Fitch assigns Invitation Homes BBB

Fitch Ratings said it assigned first-time ratings to Invitation Homes Inc. and Invitation Homes Operating Partnership LP, including a BBB long-term issuer default rating.

Fitch also gave BBB ratings to Invitation Homes Inc.'s convertible notes and Invitation Homes Operating Partnership's senior unsecured term loan and senior unsecured revolving credit facility.

“The ratings reflect the quality of the company's portfolio of single-family rental (SFR) assets, the positive steps the company has taken since its IPO to reduce leverage and Fitch's expectation that leverage will decrease to roughly 6x over the forecast period,” Fitch said in a press release.

The outlook is stable.

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