Moody's ups Physician Realty notes

Moody's Investors Service said it upgraded the senior unsecured debt rating of Physicians Realty, LP, the main operating subsidiary of Physicians Realty Trust, to Baa2 from Baa3.

“The ratings upgrade reflects the REIT's stable operating performance, high-quality medical office building (MOB) portfolio, and improved leverage metrics,” Moody’s said in a press release.

The agency noted that Physicians Realty lowered its leverage, by issuing substantial amounts of common equity to help fund its strategic growth and sees it keeping leverage in the mid-5x range.

The outlook is stable.

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