S&P views Ladder Capital positively

S&P said it changed its outlook on Ladder Capital Finance Holdings LLLP to positive from stable and affirmed its BB- issuer and senior unsecured ratings.

“The outlook revision reflects our expectation that the company will report stable operating results in 2022 while navigating any remaining pandemic-related obstacles in commercial real estate (CRE), particularly in office properties,” the agency said in a press release.

S&P said it also expects Ladder to keep its diversified funding mix, adequate liquidity and leverage, measured as debt to adjusted total equity, of around 3x. As of Dec. 31, 2021, Ladder's debt-to-ATE leverage was 2.78x.

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