EPR Properties Receives Investment Grade Rating From S&P Global Ratings
EPR Properties (NYSE: EPR) has received an investment grade rating of 'BBB-' from S&P Global Ratings for its unsecured debt, complementing its existing 'Baa3' rating from Moody's. This upgrade reflects the strength of its experiential property portfolio and aims to facilitate access to capital at competitive rates. The affirmation from S&P and Moody's may allow the release of certain subsidiary guarantees under existing debt agreements, enhancing financial flexibility. EPR Properties, with nearly $6.5 billion in investments, focuses on experiential venues that drive consumer engagement.
- Achieved investment grade rating of 'BBB-' from S&P Global Ratings.
- Maintained 'Baa3' investment grade rating from Moody's.
- Potential to release subsidiary guarantees under existing debt agreements.
- Expanded access to capital sources at competitive rates.
- Moody's rating outlook remains negative, indicating potential future risks.
“We are very pleased to have secured investment grade ratings from both S&P and Moody's, which reflects the strength of our experiential property portfolio,” stated
The Company previously caused certain of its key subsidiaries to guarantee the Company's obligations under its existing bank credit facility, private placement notes and senior unsecured bonds based on a decrease in the Company's credit ratings resulting from the impact of the COVID-19 pandemic. As a result of now having an investment grade rating from both S&P and Moody's, the Company's subsidiary guarantors under these debt agreements may be released from their guarantees in accordance with the terms of such agreements. Accordingly, the Company will provide the applicable notices under these agreements to release the Company's subsidiary guarantors from their guarantees.
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With the exception of historical information, certain statements contained or incorporated by reference herein may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended (the “Securities Act”), and Section 21E of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), such as those pertaining to the Company's expected pursuit of growth opportunities. The forward-looking statements presented herein are based on the Company's current expectations. Forward-looking statements involve numerous risks and uncertainties, and you should not rely on them as predictions of actual events. There is no assurance the events or circumstances reflected in the forward-looking statements will occur. You can identify forward-looking statements by use of words such as “will be,” “intend,” “continue,” “believe,” “may,” “expect,” “hope,” “anticipate,” “goal,” “forecast,” “pipeline,” “estimates,” “offers,” “plans,” “would” or other similar expressions or other comparable terms or discussions of strategy, plans or intentions contained or incorporated by reference herein. Forward-looking statements necessarily are dependent on assumptions, data or methods that may be incorrect or imprecise. These forward-looking statements represent our intentions, plans, expectations and beliefs and are subject to numerous assumptions, risks and uncertainties. Many of the factors that will determine these items are beyond our ability to control or predict. For further discussion of these factors see “Item 1A. Risk Factors” in our most recent Annual Report on Form 10-K and, to the extent applicable, our Quarterly Reports on Form 10-Q.
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