Equity Commonwealth Announces Revised Outlook from Moody’s
Equity Commonwealth (NYSE:EQC) announced that Moody’s Investors Service (“Moody’s”) has affirmed the company’s senior unsecured debt rating of Baa3 and revised the outlook to stable from negative.
Moody’s commented, “The stable outlook reflects the REIT’s reduced leverage, as well as its progress on its large-scale strategic repositioning plan that will improve its portfolio quality.” Moody’s further noted, “Equity Commonwealth’s new management team has significantly improved the REIT’s credit profile since assuming control in mid-2014. Moody’s also notes management’s success in moving forward with a strategy to improve its operation and growth profile.”
About Equity Commonwealth
Equity Commonwealth (NYSE:EQC) is an internally managed and self-advised real estate investment trust (REIT). EQC is one of the largest commercial office REITs in the United States, with a national portfolio of 154 properties comprising 42.8 million square feet and executive offices in Chicago, IL.
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