Lineage Receives Investment Grade Credit Ratings from Moody’s and Fitch
August 07 2024 - 7:00AM
Business Wire
Leading market position and diverse global
portfolio recognized with inaugural credit ratings of Baa2 from
Moody’s and BBB+ from Fitch
Lineage, Inc. (NASDAQ: LINE) (the “Company”), the world’s
largest global temperature-controlled warehouse REIT, today
announced that the Company received investment grade credit ratings
from Moody’s Investors Service (“Moody’s”) and Fitch Ratings
(“Fitch”). Moody’s has assigned a first-time Issuer Rating of Baa2
to the Company with a Stable outlook, and Fitch has assigned a
Long-Term Issuer Default Rating of BBB+ to the Company with a
Stable outlook.
“After completing our highly successful initial public offering,
one of our top priorities was to achieve investment grade ratings
across multiple agencies,” said Rob Crisci, Lineage’s Chief
Financial Officer. “These ratings will support our efforts to
further fuel our growth flywheel as we work to create long-term
value for our customers and shareholders.”
Moody’s stated that Lineage’s rating reflects its leading market
position in the temperature-controlled industrial warehouse market,
its large portion of recurring revenues, and its highly diversified
global portfolio of specialized assets that are a critical
component within the cold food supply chain. Fitch stated that
Lineage’s rating reflects the Company’s superior portfolio
diversity with regards to asset granularity, geography,
commodities, and customer base.
About Lineage
Lineage, Inc. is the world’s largest global
temperature-controlled warehouse REIT with a network of over 480
strategically located facilities totaling over 84.1 million square
feet and 3.0 billion cubic feet of capacity across countries in
North America, Europe, and Asia-Pacific. Coupling end-to-end supply
chain solutions and technology, Lineage partners with some of the
world’s largest food and beverage producers, retailers, and
distributors to help increase distribution efficiency, advance
sustainability, minimize supply chain waste, and, most importantly,
feed the world. (onelineage.com)
Forward-Looking Statements
Certain statements contained in this press release may be
considered forward-looking statements within the meaning of Section
27A of the Securities Act of 1933, as amended, and Section 21E of
the Securities Exchange Act of 1934, as amended. Lineage intends
for all such forward-looking statements to be covered by the
applicable safe harbor provisions for forward-looking statements
contained in those acts. Such forward-looking statements can
generally be identified by Lineage’s use of forward-looking
terminology such as “may,” “will,” “expect,” “intend,”
“anticipate,” “estimate,” “believe,” “continue,” “seek,”
“objective,” “goal,” “strategy,” “plan,” “focus,” “priority,”
“should,” “could,” “potential,” “possible,” “look forward,”
“optimistic,” or other similar words. Readers are cautioned not to
place undue reliance on these forward-looking statements, which
speak only as of the date of this press release. Such statements
are subject to certain risks and uncertainties, including known and
unknown risks, which could cause actual results to differ
materially from those projected or anticipated. Therefore, such
statements are not intended to be a guarantee of Lineage’s
performance in future periods. Except as required by law, Lineage
does not undertake any obligation to update or revise any
forward-looking statements contained in this release.
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version on businesswire.com: https://www.businesswire.com/news/home/20240807887363/en/
Investor Relations Contact Evan Barbosa VP, Investor
Relations ir@onelineage.com
Media Contact Megan Hendricksen VP, Global Marketing
& Communications pr@onelineage.com.
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