Moody's upgrades W. P. Carey

Moody's Investors Service said it upgraded W. P. Carey Inc.'s senior unsecured and issuer ratings to Baa1 from Baa2. In the same action, the agency raised the senior unsecured debt rating of its European affiliate WPC Eurobond BV to Baa1 from Baa2.

“The ratings upgrade reflects the sound and predictable cash flows generated by the REIT's net lease portfolio, moderate leverage metrics, and healthy liquidity. The outlook has been revised to stable from positive based on the expectation that W. P. Carey's operating performance and capital strategy will remain steady at current levels,” Moody’s said in a press release.

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