Greystar Real Estate Partners, LLC — Moody’s upgrades GREP’s CFR debt rating to Ba3, outlook revised to positive

Rating Action: Moody’s upgrades GREP’s CFR debt rating to Ba3, outlook revised to positiveGlobal Credit Research – 07 Feb 2022New York, February 07, 2022 — Moody’s Investors Service (“Moody’s”) has upgraded Greystar Real Estate Partners, LLC’s (“Greystar” or “GREP”) Corporate Family rating and its senior secured notes to Ba3 from B1. In the same rating action, GREP’s Probability of Default rating has been upgraded to Ba3-PD from B1-PD and the rating outlook was revised to positive from stable. The upgrade and the change in rating outlook were due to the strengthening of the firm’s credit profile, driven by an increase in scale and profitability while reducing its leverage levels. The change in outlook is also due to the company’s pipeline of existing and newly announced transactions with committed equity capital that are expected to further boost GREP’s assets under management and its recurring earnings growth in the near to medium term.Upgrades:..Issuer: Greystar Real Estate Partners, LLC…. Corporate Family Rating, Upgraded to Ba3 from B1…. Probability of Default Rating, Upgraded to Ba3-PD from B1-PD….Senior Secured Notes due 2025, Upgraded to Ba3 (LGD4) from B1 (LGD4)Outlook Actions:..Issuer: Greystar Real Estate Partners, LLC….Outlook, Changed To Positive From StableRATINGS RATIONALEGreystar’s Ba3 corporate family rating incorporates the firm’s status as the largest US property manager and developer of multifamily properties as well as a leading global real…