BULLETIN: Deutsche Office Trust Earnings Announcement Has No Ratings Impact Jun 03
- ID: 1822022
- June 2003
- Standard & Poors
MELBOURNE (Standard & Poor's) June 4, 2003--Standard & Poor's Ratings Services said today that Deutsche Office Trust's (DOT, BBB+/Stable/A-2) announcement that it expects earnings for fiscal 2004 to be 8.65 cents - 9.00 cents per unit (10 cents per unit in 2002), was in line with Standard & Poor's expectations and would have no immediate impact on the trust's ratings or outlook. Standard & Poor's notes however, that significant lease incentives being offered to secure new lease commitments is likely to cause cash flow per unit (after incentives) to decline further than earnings and heighten pressure on the group's cash-flow-coverage measures, and debt levels. Given this, and further significant near-term lease maturities in the portfolio, the trust is reliant on...
Companies mentioned in this report are: DEXUS Office Trust
Action: S&P Event
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Research type: News
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