S&P rates Government Properties BBB-

Standard & Poor's said it assigned a BBB- corporate credit rating to Government Properties Income Trust.

The outlook is stable.

"Our ratings on GOV reflect the company's modest financial profile, characterized by very low leverage, above-average debt service and fixed-charge coverage, and our expectations for a substantially unencumbered property portfolio," S&P analyst Susan Madison said in a statement.

"However, the company's asset base, which consists of 55 office buildings leased primarily to government tenants, is small compared with those of other rated REITs, which contributes to our view that GOV's business risk profile is fair."

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.