Bulletin: Starwood's Proposed Add-On To Its Term Loan B Facility Won't Affect Leverage Or Creditworthiness - S&P Global Ratings’ Credit Research

Bulletin: Starwood's Proposed Add-On To Its Term Loan B Facility Won't Affect Leverage Or Creditworthiness

Bulletin: Starwood's Proposed Add-On To Its Term Loan B Facility Won't Affect Leverage Or Creditworthiness - S&P Global Ratings’ Credit Research
Bulletin: Starwood's Proposed Add-On To Its Term Loan B Facility Won't Affect Leverage Or Creditworthiness
Published Sep 20, 2021
2 pages (1207 words) — Published Sep 20, 2021
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Abstract:

NEW YORK (S&P Global Ratings) Sept. 20, 2021--S&P Global Ratings today said that Starwood Property Trust Inc.'s (BB-/Stable/--) proposed $150 million add-on to the existing term loan B facility, issued by subsidiary Starwood Property Mortgage LLC (SPM; BB-/Stable/--), should incrementally support its funding with virtually no impact to leverage or our rating on the company. We rate the term loan B 'BB-', in line with the issuer credit ratings on Starwood and SPM. The issuance will add to the existing $645 million term loan facility, due July 2026, first originated in 2019. SPM, which we consider integral to Starwood, added an incremental $250 million to the original $395 million facility in 2020. The currently proposed issuance will be an add-on

  
Report Type:

Bulletin

Issuer
Starwood Property Trust Inc.
Sector
Global Issuers
Country
United States
Region
United States
Format:
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Cite this Report

  
MLA:
S&P Global Ratings’ Credit Research. "Bulletin: Starwood's Proposed Add-On To Its Term Loan B Facility Won't Affect Leverage Or Creditworthiness" Sep 20, 2021. Alacra Store. May 20, 2025. <http://www.alacrastore.com/s-and-p-credit-research/Bulletin-Starwood-s-Proposed-Add-On-To-Its-Term-Loan-B-Facility-Won-t-Affect-Leverage-Or-Creditworthiness-2723916>
  
APA:
S&P Global Ratings’ Credit Research. (). Bulletin: Starwood's Proposed Add-On To Its Term Loan B Facility Won't Affect Leverage Or Creditworthiness Sep 20, 2021. New York, NY: Alacra Store. Retrieved May 20, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/Bulletin-Starwood-s-Proposed-Add-On-To-Its-Term-Loan-B-Facility-Won-t-Affect-Leverage-Or-Creditworthiness-2723916>
  
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