NEW YORK (Standard&Poor's) Aug. 13, 2014--Standard&Poor's Ratings Services today assigned its 'BBB-' issue rating to the proposed $350 million offering of senior notes by Government Properties Income Trust, a publicly listed real estate investment trust based in Newton, Mass. Our existing ratings on Government Properties, including the 'BBB-' corporate credit rating, remain unchanged. The outlook is stable. The company plans to use offering proceeds to repay the $150 million outstanding of a $500 million term loan and to reduce amounts outstanding under the company's revolving credit facility. The new debt-for-debt financing will not affect the existing ratings or stable outlook on Government Properties. However, we note the 5-year notes will lengthen debt duration to about 4.5
