Debt

Fitch Downgrades iStar Rating, Default Lingers 

Fitch Ratings downgraded iStar Financial’s [stock SFI][/stock] Issuer Default Rating and reported that default appears probable for the commercial real estate investor. Fitch cited a weakened liquidity position for iStar, a Real Estate Investment Trust (REIT) that raises equity capital from leading institutional and high-net worth investors, sending the rating to double-C from a B-minus, and Fitch removed iStar from Rating Watch Negative, according to a release.