Moody’s upgrades Duke Realty to Baa1

Moody's Investors Service said it upgraded the senior unsecured ratings of Duke Realty Corp. and Duke Realty LP to Baa1 from Baa2.

The outlook was revised to stable from positive.

"The upgrade to Baa1 reflects Duke Realty's lower debt metrics and stronger operating metrics since Moody's changed the outlook to positive in January 2016. The rating action also reflects the REIT's well-located portfolio of industrial assets that should continue to benefit from accelerating demand for high-quality logistics product and measured supply growth," Moody's analyst Alice Chung said in a news release.

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