Four Springs Capital Trust, a private real estate investment trust, has received an investment grade credit rating from Egan-Jones Ratings Company of BBB as a corporate entity.
Egan-Jones Ratings Company rates the credit-worthiness of approximately 2000+ high yield and high grade U.S. corporate debt issuers. The company is recognized by the National Association of Insurance Commissioners as a credit rating provider and certified by the European Securities and Markets Authority.
“We are very pleased to have secured an investment grade credit rating for our REIT,” said John Warch, chief financial officer of Four Springs Capital Trust. “Our goal has always been to build a best-in-class commercial real estate operating company that provides long-term value for our shareholders, and it is a significant milestone to receive an investment grade rating from such a reputable independent credit rating agency as Egan-Jones.”
The company noted that Egan-Jones cited several factors for assigning the investment grade rating, including “high quality and diversified tenant base, fully built and scalable operating platform, stable and predictable cash flows, and an experienced management team.”
In January 2018, investors managed by Guggenheim Investments, a global investment advisory firm, made a $40 million strategic investment in Four Springs Capital Trust.
Four Springs Capital Trust focuses on acquiring a portfolio of retail, industrial/warehouse and healthcare properties net leased to investment grade and other creditworthy tenants under long-term leases. The company’s 1.8 million-square-foot portfolio is comprised of 55 properties located in 25 states. The portfolio is 100 percent leased with an average remaining lease term of nearly 11 years.