Crystallizing Value Creation & Market Overview
REALTY
Fortress Balance Sheet - One of Only Seven U.S. REITS with Two A3/A- Ratings or Better
■Commercial Paper
GBP Denominated Notes
(2)
Term Loan
■Revolver (3)
■Mortgages
(4)
Unsecured Notes
$406
$112
STAGGERED DEBT MATURITY PROFILE(1)
in $ millions
$770
$712
$541
$1,140
$975
$950
$550
$500
$540
$2,098
2021
2022
2023
2024
2025
2026
2027
2028
2029
2030
2031
2032+
FAVORABLE CREDIT RATINGS
Long-Term Unsecured Debt Rating
KEY CREDIT METRICS
Low Leverage /
Conservative Long-Term
Debt Profile
(1) As of 9/30/2021.
MOODY'S A3 / Stable
S&P Global A-/ Stable
High Coverage Ratios
5.0x
Net Debt
to EBITDAre
6.1x
Fixed Charge
Coverage Ratio
26%
Debt to Total
Market Cap
(2) Represents the principal balance (in USD) of Sterling-denominated note offerings and Sterling-denominated private placement offering converted at the applicable exchange rate on September 30, 2021.
(3) As of September 30, 2021, there was no balance of borrowings outstanding under our revolving credit facility. The revolver has a $1 billion accordion feature, which is subject to obtaining lender commitments.
(4) includes the principal balance (in USD) of one Sterling-denominated mortgage payable of £31 million converted at the applicable exchange rate on September 30, 2021.
97%
Unsecured
96%
Fixed Rate
8.3 yrs
W.A. term to maturity
for notes & bonds
INCOME
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