Rexford Industrial Expands Investment Grade Ratings
Rexford Industrial Realty has received investment grade ratings from Moody's and S&P, adding to its existing rating from Fitch. Moody's assigned a Baa3 rating with a Stable outlook, while S&P assigned a BBB rating, also with a Stable outlook. These ratings reflect the strength of Rexford's industrial property portfolio in Southern California, which is characterized by high demand and low vacancy. The company aims to leverage these ratings to expand its capital access and support growth opportunities, thereby creating lasting shareholder value.
- Investment grade ratings from Moody's (Baa3) and S&P (BBB) enhance credit profile.
- Strengthens access to additional capital sources.
- Reflects the stability and demand for industrial properties in Southern California.
- None.
LOS ANGELES, Oct. 29, 2020 /PRNewswire/ -- Rexford Industrial Realty, Inc. (the "Company" or "Rexford Industrial") (NYSE: REXR), a real estate investment trust focused on creating value by investing in and operating industrial properties located in Southern California infill markets, today announced that the Company has received investment grade ratings from Moody's Investors Service ("Moody's") and Standard & Poor's Ratings Services ("S&P"), adding to its current investment grade rating from Fitch Ratings. Rexford has been assigned a first time issuer rating of Baa3 with a Stable outlook from Moody's and BBB issuer credit rating with a Stable outlook from S&P. In November 2019, Fitch Ratings affirmed Rexford's investment grade rating at BBB with a stable outlook.
"We are very pleased to have secured investment grade ratings from both Moody's and S&P, which reflects the strength and stability of our irreplaceable industrial property portfolio and pure play focus within infill Southern California, the nation's largest, lowest-vacancy and highest-demand major industrial market. This represents another important step as we expand our access to additional capital sources while maintaining our commitment to a best-in-class balance sheet, supporting our internal and external growth opportunities as we seek to create lasting shareholder value," stated Laura Clark, Chief Financial Officer.
About Rexford Industrial
Rexford Industrial, a real estate investment trust focused on creating value by investing in and operating industrial properties throughout Southern California infill markets, owns 233 properties with approximately 27.9 million rentable square feet and manages an additional 20 properties with approximately 1.0 million rentable square feet.
For additional information, visit www.rexfordindustrial.com.
Forward-Looking Statements
This press release may contain forward-looking statements within the meaning of the federal securities laws, which are based on current expectations, forecasts and assumptions that involve risks and uncertainties that could cause actual outcomes and results to differ materially. Forward-looking statements relate to expectations, beliefs, projections, future plans and strategies, anticipated events or trends and similar expressions concerning matters that are not historical facts. In some cases, you can identify forward-looking statements by the use of forward-looking terminology such as "may," "will," "should," "expects," "intends," "plans," "anticipates," "believes," "estimates," "predicts," or "potential" or the negative of these words and phrases or similar words or phrases which are predictions of or indicate future events or trends and which do not relate solely to historical matters. While forward-looking statements reflect the Company's good faith beliefs, assumptions and expectations, they are not guarantees of future performance. For a further discussion of these and other factors that could cause the Company's future results to differ materially from any forward-looking statements, see the reports and other filings by the Company with the U.S. Securities and Exchange Commission, including the Company's Annual Report on Form 10-K for the year ended December 31, 2019 and the Current Report on Form 8-K filed with the SEC on or about the date of this press release. The Company disclaims any obligation to publicly update or revise any forward-looking statement to reflect changes in underlying assumptions or factors, of new information, data or methods, future events or other changes.
Contact:
Investor Relations:
Stephen Swett
424 256 2153 ext. 401
investorrelations@rexfordindustrial.com
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SOURCE Rexford Industrial Realty, Inc.
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