Moody’s rates GPT Baa3

Moody's Investors Service said it assigned a Baa3 issuer rating to GPT Property Trust LP, the main operating subsidiary of Gramercy Property Trust Inc. (collectively “Gramercy”). The outlook is stable.

The agency said Gramercy's Baa3 issuer rating reflects the real estate investment trust’s diversified portfolio and the expected strong operating margins and high fixed charge coverage based on the net lease contracts.

The rating also considers the REIT's limited track record, Moody’s said.

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