LOS ANGELES--(BUSINESS WIRE)--Hudson Pacific Properties, Inc. (NYSE: HPP) today announced that Moody’s Investors Service (“Moody’s”) upgraded the company’s corporate credit rating, including its long-term issuer and senior unsecured ratings, to Baa2 from Baa3 with a stable outlook.
The rating upgrade reflects Hudson Pacific’s quality portfolio in high-growth West Coast markets with solid fundamentals, good liquidity profile supported by a large unencumbered asset base, and strong fixed charge coverage. Moody’s also highlighted the company’s experienced management team; demonstrated success in leasing, repositioning, development and redevelopment; and commitment to owning and operating sustainable and efficient properties.
“We are pleased that Moody’s has recognized Hudson Pacific’s capital discipline, and our success in maintaining a healthy balance sheet while executing upon our growth strategy,” said Mark Lammas, Chief Financial Officer and Chief Operating Officer for Hudson Pacific. “Our gateway markets, high-caliber tenants, and seasoned management team position us well to continue to deliver strong operating and financial results.”
About Hudson Pacific Properties
Hudson Pacific is a real estate investment trust with a portfolio of office and studio properties totaling more than 20 million square feet. Focused on premier West Coast epicenters of innovation, media and technology, its anchor tenants include Fortune 500 and leading growth companies such as Netflix, Google, Square, Uber, NFL Enterprises and more. Hudson Pacific is publicly traded on the NYSE under the symbol HPP, and listed as a component of the Russell 2000® and the Russell 3000® indices. For more information visit HudsonPacificProperties.com.
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