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Fitch changes Corporate Office Properties view
Fitch Ratings said it affirmed the ratings for Corporate Office Properties Trust and Corporate Office Properties, LP, including the long-term issuer default ratings at BBB-.
The outlook was revised to positive from stable.
“OFC's ratings consider its less volatile cash flows relative to peers. This is due to its niche defense/IT office strategy that results in above-average tenant credit quality and retention rates due to the high level of tenant investment in building security and infrastructure,” the agency said in a news release.
“The company's public commitment to sustaining leverage below 6.0x is appropriate for a BBB category U.S. equity REIT with OFC's asset profile.”
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