Newton, Mass.-based Office Properties Income Trust (OPI) announced it has entered into a definitive agreement to acquire Diversified Healthcare Trust (DHC) in an all-share transaction. Therefore, we placed all of our ratings on the company, including our 'BB' issuer credit rating, on CreditWatch with negative implications. The CreditWatch placement reflects that, while we expect the transaction to enhance OPI's scale and diversification, the combined company's financial policy, capital structure, and liquidity position remain uncertain. We expect to revolve the CreditWatch once OPI closes the acquisition, which we expect will occur in the third quarter of 2023, and we gain more clarity around the combined entity's financial policy, capital structure, and liquidity position. We anticipate that we will discontinue our ratings
