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BULLETIN: Deutsche Office Trust Earnings Announcement Has No Ratings Impact Jun 03 Product Image

BULLETIN: Deutsche Office Trust Earnings Announcement Has No Ratings Impact Jun 03

  • ID: 1822022
  • June 2003
  • Standard & Poors

Abstract
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

Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.

Research type: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.

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