Market Overview

Four Springs Capital Trust Announces Investment Grade Rating


Four Springs Capital Trust (FSCT), a real estate investment trust (REIT)
that focuses on acquiring, owning and managing a portfolio of
single-tenant, income producing industrial, retail and medical/office
properties throughout the United States, announced today that Egan-Jones
Ratings Company has assigned an investment grade credit rating of BBB to
FSCT as a corporate entity.

Egan-Jones Ratings Company is a leading global service provider,
actively rating the credit-worthiness of approximately 2000+ high
yield and high grade U.S. corporate debt issuers. The company is a
Nationally Recognized Statistical Rating Organization (NRSRO) and is
recognized by the National Association of Insurance Commissioners (NAIC)
as a Credit Rating Provider. Egan-Jones is also certified by the
European Securities and Markets Authority (ESMA).

"We are very pleased to have secured an investment grade credit rating
for our REIT," said John Warch, Chief Financial Officer of Four Springs
Capital Trust. "Our goal has always been to build a best-in-class
commercial real estate operating company that provides long-term value
for our shareholders, and it is a significant milestone to receive an
investment grade rating from such a reputable independent credit rating
agency as Egan-Jones."

In its analysis of FSCT, Egan-Jones cited several key factors for
assigning the investment grade rating:

  • High quality and diversified tenant base
  • Fully built and scalable operating platform
  • Stable and predictable cash flows
  • Experienced management team

"Securing an investment grade rating is another critical step in
positioning the company for future growth and success," said Coby
Johnson, President and Chief Operating Officer of Four Springs Capital
Trust. "This rating, combined with our recent investment from leading
institutional investor Guggenheim Partners, demonstrates the strength of
our balance sheet and a sound business strategy."

In January 2018, investors managed by Guggenheim Investments, a global
investment advisory firm, made a $40 million strategic investment in

"We are pleased to hear that Egan-Jones has assigned an investment grade
credit rating to Four Springs Capital Trust," said Matt Settle, Managing
Director of Guggenheim Partners and an observer to FSCT's Board of
Trustees. "We look forward to seeing the company make continued progress
toward executing on its business plan."

About Four Springs Capital Trust:

Four Springs Capital Trust is a private real estate investment trust
focused on acquiring a diversified portfolio of retail,
industrial/warehouse and healthcare properties net leased to investment
grade and other creditworthy tenants under long-term leases.

About Guggenheim Investments:

Guggenheim Investments is the global asset management and investment
advisory division of Guggenheim Partners, with more than $246 billion*
in total assets across fixed income, equity, and alternative strategies.
We focus on the return and risk needs of insurance companies, corporate
and public pension funds, sovereign wealth funds, endowments and
foundations, consultants, wealth managers, and high-net-worth investors.
Our 300+ investment professionals perform rigorous research to
understand market trends and identify undervalued opportunities in areas
that are often complex and underfollowed. This approach to investment
management has enabled us to deliver innovative
providing diversification opportunities and attractive long-term

* Assets under management is as of 03.31.2018 and includes
leverage of $12.2bn. In April 2018, Guggenheim Investments closed the
sale of the firm's Exchange Traded Fund ("ETF") business representing
$38.6bn in assets under management, which will be reflected in the June
30, 2018 assets under management. Guggenheim Investments represents the
following affiliated investment management businesses of Guggenheim
Partners, LLC: Guggenheim Partners Investment Management, LLC, Security
Investors, LLC, Guggenheim Funds Investment Advisors, LLC, Guggenheim
Funds Distributors, LLC, Guggenheim Real Estate, LLC, GS GAMMA Advisors,
LLC, Guggenheim Partners Europe Limited and Guggenheim Partners India

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