Los-Angeles based Kilroy Realty Corp. is a mid-sized office REIT focused on West Coast markets. We raised our ratings on the company, including the corporate credit rating, which we raised to 'BBB' from 'BBB-'. The outlook is stable, which reflects our expectation that near-term development completions along with strong demand in the company's key markets will lead to good cash flow growth resulting in improving coverage measures and lower leverage. On May 18, 2015, Standard&Poor's Ratings Services raised its corporate credit rating on Kilroy Realty Corp. and its operating partnership, Kilroy Realty L.P. (collectively, Kilroy), to 'BBB' from 'BBB-'. The outlook is stable. The upgrade primarily reflects the company's execution of its development strategy and early-cycle pivot toward
