...- Office Properties Income Trust's (OPI) key credit metrics continue to deteriorate due to pressured operating performance and a challenging transaction environment, which has limited asset sales and debt repayment. - We expect ongoing secular headwinds and material lease expirations will continue to pressure its key credit metrics over the near term and for access to capital to remain constrained. We believe OPI is currently vulnerable and is dependent upon favorable business, financial, and economic conditions to meet its financial commitments. - As a result, we lowered our issuer credit rating on OPI to '###+' from '##-'. At the same time, we lowered our issue-level rating on its senior unsecured notes to '###+' from '##'. The recovery rating on this debt is lowered to '3' from '2'. At the same time, we placed the ratings on CreditWatch with negative implications. - The CreditWatch placement reflects the possibility that OPI might not secure sufficient liquidity sources over the next...
