Moody’s Revises Outlook for CommonWealth REIT Rating

Moody’s Investors Service has revised the outlook for CommonWealth REIT’s Baa3 senior unsecured rating to negative from stable reflecting the office real estate investment trust’s weak operating performance.

The ratings agency said the weak operating performance is expected to persist for the intermediate term as it works to address a large number of challenged properties in its portfolio even though CWH has made good progress in executing its business plan to dispose of its weakest assets and accelerate its transition to becoming an office REIT focused on second tier CBD markets.

Moody’s would view positively the REIT’s ability to make substantial progress with these assets, either through disposition or lease up, over the next 12 months, the ratings agency added.

Article source: http://www.nationalmortgagenews.com/dailybriefing/Moodys-Revises-Outlook-CommonWealth-REIT-Rating-1038362-1.html

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