S&P: Duke Realty notes BBB-

Standard & Poor's said it assigned its BBB- rating to the $300 million 4.375% senior unsecured notes due June 15, issued by Duke Realty LP, a subsidiary of Duke Realty Corp.

The agency said the ratings on Duke Realty Corp. reflect a satisfactory business risk profile supported by a large, diversified and competitively positioned portfolio of high-quality industrial and medical office properties, as well as office properties with weaker, but stabilizing performance.

The stable outlook reflects expectations for continued low but relatively firm FCC measures, given the company's minimal exposure to variable interest rates, relatively manageable lease expirations and reduced development pipeline.

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