S&P affirms Highwoods

Standard & Poor's said it affirmed its BBB- corporate credit ratings on Highwoods Properties Inc. and its operating subsidiary, Highwoods Realty LP.

Concurrently, the agency said it affirmed the ratings on roughly $650 million of senior unsecured notes and on $82 million of preferred stock at BBB- and BB, respectively.

The outlook is stable.

The agency added that the ratings on Highwoods reflect strengthened portfolio quality and occupancy, which in conjunction with the lease-up of the development pipeline, have contributed to recently improved debt coverage measures.

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