S&P Global Ratings assigned a BBB issuer credit rating on diversified real estate investment trust Broadstone Net Lease Inc., with a stable outlook.

The rating agency also assigned a BBB issue-level rating to the REIT's senior unsecured notes.

The stable outlook was based on the expectation that the REIT will experience minimal disruption to its operating performance through the coronavirus pandemic and the subsequent economic downturn due to its high rent collection supported by its diversified portfolio of triple-net-leased assets.

The REIT is also expected to execute its growth strategy in a largely leverage-neutral manner with S&P-adjusted debt to EBITDA in the high-5x to low-6x area over the next few years.

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This S&P Global Market Intelligence news article may contain information about credit ratings issued by S&P Global Ratings. Descriptions in this news article were not prepared by S&P Global Ratings.