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Prospect News home > News index > List of issuers L > Headlines for L-3 Communications Holdings, Inc. > News item |
Moody's affirms Piedmont; outlook positive
Moody's Investors Service said it affirmed the Baa3 issuer rating of Piedmont Operating Partnership, LP, a wholly owned subsidiary of Piedmont Office Realty Trust, Inc., and revised the outlook to positive from stable.
The positive outlook reflects Moody's expectation that Piedmont will continue to operate with its conservative leverage profile over the long-term.
According to the agency, effective leverage - debt plus preferred as a percentage of gross assets - was 30% and net debt to EBITDA was 4.5x at 2Q09.
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