Office Properties Income Trust Outlook Revised To Negative From Stable On Elevated Leverage, Ratings Affirmed - S&P Global Ratings’ Credit Research

Office Properties Income Trust Outlook Revised To Negative From Stable On Elevated Leverage, Ratings Affirmed

Office Properties Income Trust Outlook Revised To Negative From Stable On Elevated Leverage, Ratings Affirmed - S&P Global Ratings’ Credit Research
Office Properties Income Trust Outlook Revised To Negative From Stable On Elevated Leverage, Ratings Affirmed
Published Jun 23, 2022
4 pages (1733 words) — Published Jun 23, 2022
Price US$ 150.00  |  Buy this Report Now

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Abstract:

Office Properties Income Trust's (OPI) adjusted debt to EBITDA has been elevated due to debt-financed acquisitions and pressured operating performance. We expect adjusted debt to EBITDA to remain elevated over the near term as the company recycles capital from planned dispositions into development projects. S&P Global Ratings revised its outlook to negative from stable and affirmed all of its ratings on the company, including the 'BBB-' issuer credit rating. The negative outlook reflects a one-in-three chance that we could lower our ratings on OPI over the next two years. The negative outlook incorporates the risk that credit metrics remain elevated near current levels should the company fail to execute its strategic initiatives and operating performance remains pressured. TORONTO (S&P Global

  
Brief Excerpt:

...June 23, 2022 - Office Properties Income Trust's (OPI) adjusted debt to EBITDA has been elevated due to debt-financed acquisitions and pressured operating performance. - We expect adjusted debt to EBITDA to remain elevated over the near term as the company recycles capital from planned dispositions into development projects. - S&P Global Ratings revised its outlook to negative from stable and affirmed all of its ratings on the company, including the '###-' issuer credit rating. - The negative outlook reflects a one-in-three chance that we could lower our ratings on OPI over the next two years. The negative outlook incorporates the risk that credit metrics remain elevated near current levels should the company fail to execute its strategic initiatives and operating performance remains pressured. TORONTO (S&P Global Ratings) June 23, 2022--S&P Global Ratings today took the rating actions listed above. We expect leverage to remain elevated over the next 12-24 months as the company completes...

  
Report Type:

Ratings Action

Ticker
GOV
Issuer
Office Properties Income Trust
Sector
Global Issuers, Structured Finance
Country
United States
Region
United States
Format:
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Cite this Report

  
MLA:
S&P Global Ratings’ Credit Research. "Office Properties Income Trust Outlook Revised To Negative From Stable On Elevated Leverage, Ratings Affirmed" Jun 23, 2022. Alacra Store. May 12, 2025. <http://www.alacrastore.com/s-and-p-credit-research/Office-Properties-Income-Trust-Outlook-Revised-To-Negative-From-Stable-On-Elevated-Leverage-Ratings-Affirmed-2858022>
  
APA:
S&P Global Ratings’ Credit Research. (). Office Properties Income Trust Outlook Revised To Negative From Stable On Elevated Leverage, Ratings Affirmed Jun 23, 2022. New York, NY: Alacra Store. Retrieved May 12, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/Office-Properties-Income-Trust-Outlook-Revised-To-Negative-From-Stable-On-Elevated-Leverage-Ratings-Affirmed-2858022>
  
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