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S&P affirms Highwoods Properties

S&P Global Ratings affirmed its BBB corporate credit rating on office real estate investment trust Highwoods Properties Inc., with a stable outlook.

The outlook on Highwoods reflects its expectation for steady rent growth and further revenues from development completions to support debt-to-adjusted EBITDA in the low- to mid-5x area.

The rating agency also expects the company to finance portfolio growth on a leverage-neutral basis with a considerable amount of development to be pre-leased.

This S&P Global Market Intelligence news article may contain information about credit ratings issued by S&P Global Ratings, a separately managed division of S&P Global. Descriptions in this news article were not prepared by S&P Global Ratings. The original S&P Global Ratings documents referred to in this news brief can be found here.