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iStar Inc. -- Moody's upgrades iStar's corporate family and senior unsecured ratings to Ba3, outlook is stable

Moody's Investors Service ("Moody's") has upgraded iStar Inc.'s corporate family and senior unsecured ratings to Ba3 from B1 following improvement in the REIT's liquidity position and material reduction in its non-core asset exposure. In the same rating action, iStar's preferred stock rating was upgraded to B2 from B3, the REIT's senior secured credit facility rating was affirmed at Ba2 and a Speculative Grade Liquidity Rating of SGL-2 was assigned. Substantial land and operating asset sales in the last few quarters has helped iStar reduce its exposure to non-core assets and have improved its liquidity position.