Fitch changes Corporate Office view

Fitch Ratings said it affirmed the ratings for Corporate Office Properties Trust and its operating partnership Corporate Office Properties, LP, including the long-term issuer default ratings at BBB-.

The outlook was revised to stable from positive.

Fitch said its ratings take into consideration that the company's cash flows are less volatile relative to peers.

This is driven by its niche defense/IT office strategy, which 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 noted.

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