11/08/2018 | Press release | Distributed by Public on 11/08/2018 15:12
ATLANTA--(BUSINESS WIRE)-- Americold Realty Trust (NYSE:COLD), the world's largest owner and operator of temperature-controlled warehouses, today announced that the Company received investment grade ratings from Fitch Ratings and Morningstar Credit Ratings. Fitch has assigned an Issuer Default Rating of BBB to the Company with a Stable outlook. Morningstar has assigned a Credit Rating of BBB to the Company with a Stable outlook.
'The receipt of these investment grade ratings is a significant milestone and critical step in the ongoing transformation of our capital structure and evolution of our business. These ratings reaffirm the strength of our operating platform, the integral role our mission-critical real estate serves within the cold-chain, and our disciplined efforts to strengthen our balance sheet. We believe this recognition will increase our access to and improve our overall cost of capital. We remain focused on continuing to optimize our capital structure to support the execution of our strategy and creation of long-term shareholder value,' stated Marc Smernoff, Executive Vice President and Chief Financial Officer of Americold Realty Trust.
These ratings are subject to the closing of the Company's recast credit facility and unsecured private placement offering.
About Americold Realty Trust
Americold is the world's largest owner and operator of temperature-controlled warehouses. Based in Atlanta, Georgia, Americold owns and operates 156 temperature-controlled warehouses, with approximately 928 million refrigerated cubic feet of storage, in the United States, Australia, New Zealand, Canada, and Argentina. Americold's facilities are an integral component of the supply chain connecting food producers, processors, distributors and retailers to consumers. Americold serves approximately 2,400 customers and employs approximately 11,000 associates worldwide.
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Americold Realty Trust
Source: Americold Realty Trust