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Monday, Oct 14
American Realty receives investment-grade rating from Moody's
- "The Baa3 issuer rating reflects ARCP's portfolio of good quality, well-occupied, freestanding, single-tenant, triple-net leased properties throughout the United States and Puerto Rico," says Moody's, whose analysis incorporates the CapLease (LSE) and ARCT IV mergers and other planned acquisitions.
- The strengths are offset by the company's high effective leverage, short track record as a publicly traded company, and aggressive growth strategy. ARCP's plan to become internally managed by no later than the end of the year is a "key consideration" in the rating.