iStar Financial News

Eddie Lampert, founder of ESL Investments which has $19.5 billion in assets under management, made big cuts to holdings of CIT Group , Seagate Tech , Big Lots Inc.

May 4 - Fitch Ratings has assigned a 'B-/RR4' rating to the $275 million aggregate principal amount 9.00% coupon senior notes due 2017 issued by iStar Financial Inc.

New York-based iStar, which took ownership of the Ilikai in 2009 after foreclosing on the units owned by developer Brian Anderson , blamed the loss on lower gains from the early retirement of debt, increased interest expense and higher provisions for loan losses and impairments.

Ladies and gentlemen, thank you for standing by. And welcome to iStar Financial's First Quarter 2012 Earnings Conference Call.

Commercial real estate lender iStar Financial Inc posted a first-quarter loss hurt by higher expenses and it kept aside more money to cover bad loans.