NEW YORK (Standard&Poor's) Nov. 18, 2013--Standard&Poor's Ratings Services said today that its 'BB+' issue rating on Starwood Property Trust Inc.'s (Starwood) senior secured first-lien term loan due 2020 remains unchanged following the company's announcement that it plans to upsize the term loan by $300 million to fund its loan and acquisition origination pipeline and for general corporate purposes. In addition to upsizing the amount, the term loan amendment will also include an expansion of the Borrowing Base Eligibility Criteria, as well as adjustments to tangible net worth and leverage ratio incurrence covenants. The 'BB' issuer credit rating and stable outlook on Starwood also remain unchanged. We think the upsized seven-year first-lien term loan will continue to
