STORE Capital Outlook Raised by S&P Global

Rhea-AI Summary

STORE Capital Corporation (NYSE: STOR) announced a positive rating outlook from S&P Global Ratings, upgrading it from stable to positive while affirming a 'BBB' issuer credit rating. This change highlights STORE Capital's resilience and healthy performance during the pandemic, attributed to the strength and diversity of its portfolio, which includes over 2,700 properties across the U.S. The company emphasizes its robust financial policies and management expertise in maintaining a well-performing operational real estate portfolio.

Positive

• S&P Global Ratings raised outlook to positive from stable.
• Affirmed 'BBB' issuer credit rating.
• Resilience of portfolio during pandemic showcased.
• Strong operating performance and credit metrics highlighted.
• Diversity with over 2,700 properties across the U.S.

Negative

• None.

SCOTTSDALE, Ariz.--(BUSINESS WIRE)-- STORE Capital Corporation (NYSE: STOR), an internally managed net-lease real estate investment trust (REIT) that invests in Single Tenant Operational Real Estate, today announced that S&P Global Ratings (“S&P”) raised its outlook to positive from stable and affirmed its ‘BBB’ issuer credit rating on the Company.

“We’re excited that S&P raised its outlook for STORE to positive, underscoring the resilience of our portfolio during the pandemic and our healthy operating performance and credit metrics, along with our prudent financial policies,” said Mary Fedewa, STORE Capital’s President and CEO. “We attribute our outstanding portfolio performance to the strength of our customers who operate in vital industries, the size and diversity of our portfolio, and our deep portfolio management expertise.”

About STORE Capital

STORE Capital Corporation is an internally managed net-lease real estate investment trust, or REIT, that is a leader in the acquisition, investment and management of Single Tenant Operational Real Estate, which is its target market and the inspiration for its name. STORE Capital is one of the largest and fastest growing net-lease REITs and owns a large, well-diversified portfolio that consists of investments in more than 2,700 property locations across the United States, substantially all of which are profit centers. Additional information about STORE Capital can be found on its website at www.storecapital.com.

Forward Looking Statements

Certain statements contained in this press release that are not historical facts contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, that are subject to the “safe harbor” created by those sections. Forward-looking statements can be identified by the use of words such as “estimate,” “anticipate,” “expect,” “believe,” “intend,” “may,” “will,” “should,” “seek,” “approximate” or “plan,” or the negative of these words and phrases or similar words or phrases. Forward-looking statements, by their nature, involve estimates, projections, goals, forecasts and assumptions and are subject to risks and uncertainties that could cause actual results or outcomes to differ materially from those expressed in the forward-looking statements. For more information on risk factors for STORE Capital’s business, please refer to the periodic reports the Company files with the Securities and Exchange Commission from time to time. These forward-looking statements herein speak only as of the date of this press release and should not be relied upon as predictions of future events. STORE Capital expressly disclaims any obligation or undertaking to update or revise any forward-looking statements contained herein, to reflect any change in STORE Capital’s expectations with regard thereto, or any other change in events, conditions or circumstances on which any such statement is based, except as required by law.

View source version on businesswire.com: https://www.businesswire.com/news/home/20211007005357/en/

Financial Profiles, Inc.

STORECapital@finprofiles.com

Investors or Media:

Moira Conlon, 310-622-8220

Megan McGrath, 310-622-8248

Source: STORE Capital Corporation

FAQ

What rating did S&P give STORE Capital Corporation?

S&P Global Ratings affirmed a 'BBB' issuer credit rating for STORE Capital Corporation.

What is the new outlook for STORE Capital according to S&P?

S&P raised its outlook for STORE Capital from stable to positive.

How many properties does STORE Capital own?

STORE Capital owns over 2,700 property locations across the United States.

What does STORE Capital focus on in its investments?

STORE Capital focuses on Single Tenant Operational Real Estate investments.