S&P revises Government Properties view to stable

S&P said it revised its outlook on Government Properties Income Trust to stable from negative and affirmed the BBB- issuer credit rating on GOV and BBB- issue-level rating on its senior unsecured notes.

“The rating affirmation and outlook revision reflect our view that the combined company will boast greater scale, better tenant and geographical diversification, and significantly fewer upcoming lease expirations,” S&P said in a news release.

Government Properties Income Trust announced a definitive merger agreement with Select Income REIT (BBB-/stable/--) to form an office REIT with about $6 billion in undepreciated assets.

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