Fitch rates Corporate Office notes BBB-

Fitch Ratings said it assigned a BBB- rating to the $300 million unsecured notes issued by Corporate Office Properties, LP, subsidiary of Corporate Office Properties Trust.

The 2025 notes were priced at 99.510% of par, or at 5.063%, a 270 basis point spread to the benchmark treasury, Fitch said.

The proceeds will be used to repay borrowings under its unsecured revolving credit facility and for general corporate purposes, the agency said.

The outlook is stable.

The company has long-standing relationships with the federal government and contractors, Fitch said, and these strategic locations create meaningful barriers to entry.

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