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--(business wire)-- #creditratingagency--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. th.
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