Easterly Government Properties Receives Investment Grade Credit Rating
11 Januar 2024 - 2:30PM
Business Wire
Reflective of its Superior Tenancy and
Investment Grade Balance Sheet, Easterly Achieves Inaugural BBB
Rating with Stable Outlook
Easterly Government Properties, Inc. (NYSE: DEA) today announced
that the company received an investment grade issuer credit rating
from Kroll Bond Rating Agency, LLC (“KBRA”) of BBB with Stable
Outlook.
“Receiving this investment grade rating from KBRA is reflective
of the strong underlying credit quality of our cashflows and the
secure balance sheet we have built at Easterly Government
Properties,” stated Allison Marino, Easterly’s Chief Financial
Officer and Chief Accounting Officer. “With approximately 99% of
our annualized lease income coming from KBRA’s AAA rated U.S.
Government credit, we intend to utilize our attractive cost of
capital to drive shareholder value.”
“We are pleased KBRA recognizes the strength of our balance
sheet supported by leases of mission critical facilities to
government agencies with an enduring mission,” said Darrell Crate,
Chief Executive Officer of Easterly Government Properties. “We
expect to use this rating to expand our capital base and support
earnings growth for our shareholders.”
About Easterly Government Properties, Inc.
Easterly Government Properties, Inc. (NYSE:DEA) is based in
Washington, D.C. and focuses primarily on the acquisition,
development and management of Class A commercial properties that
are leased to the U.S. Government. Easterly’s experienced
management team brings specialized insight into the strategy and
needs of mission-critical U.S. Government agencies for properties
leased to such agencies either directly or through the U.S. General
Services Administration (GSA). For further information on the
company and its properties, please visit www.easterlyreit.com.
This press release contains forward-looking statements within
the meaning of federal securities laws and regulations. These
forward-looking statements are identified by their use of terms and
phrases such as “believe,” “expect,” “intend,” “project,”
“anticipate,” “position,” and other similar terms and phrases,
including references to assumptions and forecasts of future
results. Forward-looking statements are not guarantees of future
performance and involve known and unknown risks, uncertainties and
other factors which may cause the actual results to differ
materially from those anticipated at the time the forward-looking
statements are made. These risks include, but are not limited to,
those risks and uncertainties associated with our business
described from time to time in our filings with the Securities and
Exchange Commission, including our Annual Report on Form 10-K filed
on February 28, 2023. Although we believe the expectations
reflected in such forward-looking statements are based upon
reasonable assumptions, we can give no assurance that the
expectations will be attained or that any deviation will not be
material. All information in this release is as of the date of this
release, and we undertake no obligation to update any
forward-looking statement to conform the statement to actual
results or changes in our expectations.
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version on businesswire.com: https://www.businesswire.com/news/home/20240111926024/en/
Easterly Government Properties, Inc. Lindsay S. Winterhalter
Senior Vice President, Investor Relations & Operations
202-596-3947 ir@easterlyreit.com
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