Moody's affirms Kilroy Realty

Moody's Investors Service said it affirmed Kilroy Realty Corp.'s issuer rating and preferred stock rating at Baa3 and Ba1, respectively.

The agency said it also affirmed the senior unsecured debt rating on Kilroy Realty, LP at Baa3. The outlook is stable.

Moody's said the ratings reflect Kilroy's high-quality office assets and market position along the west coast, its high-quality unencumbered asset pool and its moderate leverage levels. The agency said these strengths are counterbalanced by the company's material geographic concentration in its California markets and its development growth strategy.

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