Business
KBRA Upgrades SmartStop OP, L.P. Issuer and Senior Note Ratings to BBB/Stable; Assigns BBB Rating to CAD$500 Million Senior Notes due 2028
NEW YORK, July 14, 2025--KBRA has upgraded its issuer and senior unsecured note ratings for SmartStop OP, L.P. to BBB with a Stable Outlook from BBB- Watch Upgrade. The rating action follows parent company SmartStop Self Storage REIT, Inc.'s (NYSE: SMA) completion in April of an initial public offering (IPO), which raised approximately $874 million of net equity. KBRA has also assigned a BBB/Stable rating to SmartStop OP's recent issuance of CAD$500 million senior unsecured notes due 2028.
About this update from Smartstop Self Storage Reit, Inc.
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