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Summary: Government Properties Income Trust

Published Feb 05, 2014

Price US$ 225.00 | Buy this Report Now

About This Report

Abstract:

Our 'BBB-' rating on Government Properties Income Trust (GOV) is derived from: Our anchor of 'bbb-' based on our "fair" business risk and "modest" financial risk profile assessments for the company. Analytical modifiers had no impact on the rating outcome. High tenant credit quality with properties leased to government users representing about 90% of rental income. Relatively small portfolio of properties and narrow investment focus. Occupancy is holding steady in the mid-90% area. Weighted average remaining lease term is short at 5.4 years. Office real estate fundamentals continue to be tepid. Relatively conservative capital structure with low leverage and strong coverage metrics. Very high exposure to short duration floating rate debt makes the company susceptible to a spike in interest

Report Type:

Summary

Ticker

GOV

Issuer

Office Properties Income Trust

Sector

Global Issuers, Structured Finance

Country

United States

Region

United States

Format:

PDF

Bulletin: Government Properties Income Trust Ratings Unaffected By Its Acquisition Of Stake In Select Income REIT – 2014/07/09 – Free

Government Properties Income Trust $350 Million Senior Notes Are Rated 'BBB-' – 2014/08/13 – US$ 150.00

Summary: Government Properties Income Trust – 2014/08/28 – US$ 225.00

Government Properties Income Trust 'BBB-' Corporate Credit And Issue-Level Ratings Affirmed; Outlook Stable – 2015/10/20 – US$ 150.00

Research Update: Government Properties Income Trust 'BBB-' Corporate Credit And Issue-Level Ratings Affirmed; Outlook Stable – 2015/10/20 – US$ 225.00

Summary: Government Properties Income Trust – 2013/05/13 – US$ 225.00

Summary: Government Properties Income Trust – 2013/02/11 – US$ 225.00

Summary: Government Properties Income Trust – 2012/08/14 – US$ 225.00

Summary: Government Properties Income Trust – 2012/03/21 – US$ 225.00

Government Properties Income Trust – 2011/09/30 – US$ 500.00

More from S&P Global Ratings’ Credit Research

S&P Global Ratings’ Credit Research—S&P Global Ratings’ credit research provides analysis on issuers and debt obligations of corporations, states and municipalities, financial institutions, insurance companies and sovereign governments. S&P Global Ratings also offers insight into the credit risk of structured finance deals, providing an independent view of credit risk associated with a growing array of debt-securitized instruments.

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Cite this Report


MLA:	S&P Global Ratings’ Credit Research. "Summary: Government Properties Income Trust" Feb 05, 2014. Alacra Store. May 12, 2025. <http://www.alacrastore.com/s-and-p-credit-research/Summary-Government-Properties-Income-Trust-1255288>

APA:	S&P Global Ratings’ Credit Research. (). Summary: Government Properties Income Trust Feb 05, 2014. New York, NY: Alacra Store. Retrieved May 12, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/Summary-Government-Properties-Income-Trust-1255288>

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