...- S&P Global Ratings completed its review of Office Properties Income Trust (OPI) following the settlement of its debt exchange. While the transaction reduced the company's overall debt burden, significant near-term debt maturities remain, and we believe it is likely that the company will engage in another debt exchange over the next six months. - We raised our issuer credit rating on OPI to '###-' from '##' (selective default) and our issue-level ratings on the senior unsecured notes that were part of the exchange to '###-' from 'D'. - We lowered our issue-level rating on the company's March 2029 senior secured notes to '###+' from 'B-', with the recovery rating remaining '1'. We also lowered the issue-level rating on the company's 2050 senior unsecured notes, which were not part of the debt exchange, to '###-' from '###'. The recovery rating on all the unsecured notes is unchanged at '3'. - We also assigned our '###' and '2' recovery rating to the company's new September 2029 senior secured...
