Moody’s: Baa3 to Hudson Pacific bonds

Moody's Investors Service said it assigned a Baa3 rating to Hudson Pacific Properties LP's proposed senior unsecured bonds and affirmed the issuer rating of Hudson Pacific Properties, Inc.

The outlook remains stable.

Proceeds will be used to repay maturing debt and fund future investment opportunities.

The agency said the Baa3 rating reflects the high-quality portfolio of assets in key gateway west coast markets.

“HPP's credit profile benefits from its dominant position in the San Francisco Bay and Los Angeles markets. The rating is also supported by the REIT's modest overall leverage, solid fixed-charge coverage and well-sized unencumbered pool,” Moody’s said in a news release.

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