S&P affirms Ladder Capital

S&P said it affirmed its long-term issuer credit rating on Ladder Capital Finance Holdings LLLP at BB.

The outlook remains stable.

At the same time, the agency affirmed the issue rating on the company's senior unsecured notes at BB-.

“Our rating is based on the company's good operating track record and increased unsecured funding, as well as its increased diversity of funding,” S&P said in a news release.

“Unsecured debt now composes 26.3% of debt funding, from 14.2% a year ago, and the use of repurchase facilities as a percentage of total debt funding has decreased to 10.8% from 28.1% over the same period.”

© 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.