LOS ANGELES--(BUSINESS WIRE)--
Hudson Pacific Properties, Inc. (“Hudson” or the “Company”) (NYSE:
HPP) announced today it earned investment grade credit ratings from
all three major U.S. credit rating agencies. Hudson was assigned a Baa3
rating from Moody’s Investor Service and a BBB- rating from Standard and
Poor’s Ratings Services and Fitch Ratings. All three credit ratings have
a stable outlook.
Mark T. Lammas, Hudson’s Chief Financial Officer, stated, “Hudson’s
receipt of investment grade credit ratings represents yet another
significant milestone for our company, and is the result of our
maintaining a conservative capital structure with financial flexibility
while executing our growth strategy. We now have access to the public
unsecured debt market, which further enhances our competitive position
and financial flexibility as we continue to grow.”
More information regarding Hudson’s credit rating assignment can be
found on the agencies’ respective websites at moodys.com,
standardandpoors.com
and fitchratings.com.
About Hudson Pacific Properties
Hudson Pacific Properties is a vertically-integrated real estate company
focused on acquiring, repositioning, developing and operating
high-quality office and state-of-the-art media and entertainment
properties in select West Coast markets. Hudson invests across
the risk-return spectrum, favoring opportunities where it can employ
leasing, capital investment and management expertise to create
additional value. Founded in 2006 as Hudson Capital, the Company went
public in 2010, electing to be taxed as a real estate investment trust.
Through the years, Hudson has strategically assembled a portfolio of 53
properties totaling approximately 17.3 million square feet, including
land for development, in high-growth, high-barrier-to-entry submarkets
throughout Northern and Southern California and the Pacific Northwest.
The Company is a leading provider of design-forward, next-generation
workspaces for a variety of tenants, with a focus on Fortune 500 and
industry-leading growth companies, many in the technology, media and
entertainment sectors. As a long-term owner, Hudson prioritizes tenant
satisfaction and retention, providing highly-customized build-outs and
working proactively to accommodate tenants’ growth. Hudson trades as a
component of the Russell 2000® and the Russell 3000® indices. For more
information visit hudsonpacificproperties.com.
Forward-Looking Statements
This press release may contain forward-looking statements within the
meaning of the federal securities laws. Forward-looking statements
relate to expectations, beliefs, projections, future plans and
strategies, anticipated events or trends and similar expressions
concerning matters that are not historical facts. In some cases, you can
identify forward-looking statements by the use of forward-looking
terminology such as “may,” “will,” “should,” “expects,” “intends,”
“plans,” “anticipates,” “believes,” “estimates,” “predicts,” or
“potential” or the negative of these words and phrases or similar words
or phrases that are predictions of or indicate future events or trends
and that do not relate solely to historical matters. Forward-looking
statements involve known and unknown risks, uncertainties, assumptions
and contingencies, many of which are beyond the Company’s control that
may cause actual results to differ significantly from those expressed in
any forward-looking statement. All forward-looking statements reflect
the Company’s good faith beliefs, assumptions and expectations, but they
are not guarantees of future performance. Furthermore, the Company
disclaims any obligation to publicly update or revise any
forward-looking statement to reflect changes in underlying assumptions
or factors, of new information, data or methods, future events or other
changes. For a further discussion of these and other factors that could
cause the Company’s future results to differ materially from any
forward-looking statements, see the section entitled “Risk Factors” in
the Company’s Annual Report on Form 10-K for the year ended December 31,
2014 filed with the Securities and Exchange Commission, or SEC, on
March 2, 2015, as amended, and other risks described in documents
subsequently filed by the Company from time to time with the SEC.
Investors/Media:
Hudson Pacific Properties, Inc.
Laura
Campbell, 310-622-1702
Director, Investor Relations
lcampbell@hudsonppi.com
Source: Hudson Pacific Properties, Inc.