trending Market Intelligence /marketintelligence/en/news-insights/trending/l1sLftrt0o8QBSZX5Lv24Q2 content
Log in to other products

Login to Market Intelligence Platform

 /


Looking for more?

Contact Us
In This List

Moody's places Parkway Properties on review for downgrade

Gauging Supply Chain Risk In Volatile Times

The Commercial Real Estate (CRE) Sector Feels the Impact of the Coronavirus

Credit Analytics Case Study Poundworld Retail Ltd

Segment

IFRS 9 Impairment How It Impacts Your Corporation And How We Can Help


Moody's places Parkway Properties on review for downgrade

Moody's placed ParkwayProperties Inc.'s Baa3 issuer rating on review for downgrade,warning that a downgrade could be more than one notch.

The global rating agency noted that the rating action followsthe company's recently announced deal to merge with in an all-stocktransaction.

"Although Parkway will be part of a larger, morediversified office REIT focused on high-growth Sunbelt markets, we expectsecured leverage will increase significantly as Cousins relies on a securedfunding model," Moody's said in a statement.

Moody's said that Parkway's current Baa3 rating reflects itsexpectation that the company would cut secured debt and boost the size andquality of its unencumbered asset pool.

The rating agency added that in its review, it will focus onParkway's pro forma capital structure, specifically overall leverage and theuse of secured debt and its strategic profile.