Moody’s Investors Service Initiates Coverage of Sovran Self Storage, Inc. with a ‘Baa2’ Credit Rating
BUFFALO, N.Y.--(BUSINESS WIRE)-- Sovran Self Storage, Inc., (NYSE:SSS), a self storage real estate investment trust (REIT), announced today Moody’s Investors Service issued a ‘Baa2’ credit rating on its corporate credit and issue-level ratings.
The news comes less than a week after Standard and Poor’s Rating Services upgraded Sovran’s corporate credit and issue-level ratings to ‘BBB’ with a stable outlook.
“The Baa2 initiation by Moody’s and the upgrade of our credit rating by S&P are confirmation of our conservative financing strategy, our systematic approach to acquisitions, and our historically strong operating performance,” commented Chief Financial Officer Andy Gregoire.
Additional information regarding both rating assignments can be found in the Ratings Actions issued on December 9, 2015 and December 3, 2015 by Moody’s Investors Service and Standard and Poor’s, respectively. Both ratings are subject to revision or withdrawal at any time by the rating agency and are not a recommendation to buy, hold or sell securities.
About Sovran Self Storage, Inc.
Sovran Self Storage, Inc. is an equity REIT that is in the business of acquiring and managing self storage facilities. The Company operates over 500 self storage facilities in 25 states under the name Uncle Bob’s Self Storage®. For more information, visit www.unclebobs.com, like us on Facebook, or follow us on Twitter.
Sovran Self Storage, Inc.
Diane Piegza, 716-650-6115
Vice President, Investor Relations & Community Affairs
Source: Sovran Self Storage, Inc.
Released December 10, 2015