KBRA Assigns BBB Rating to Easterly Government Properties LP’s $125 Million Senior Unsecured Note Issuance

KBRA has assigned its BBB rating to Easterly Government Properties LP’s (Easterly) recent private placement of $25 million 6.13% series A senior unsecured notes due March 20, 2030, and $100 million 6.33% series B senior unsecured notes due March 20, 2032. The Outlook is Stable. Note proceeds are expected to be used to refinance borrowings under Easterly’s $400 million revolving credit facility, as well as provide liquidity for future acquisitions and development. KBRA also maintains a BBB/Stable issuer rating for Easterly and a BBB/Stable rating for Easterly’s outstanding $900 million senior unsecured notes due 2027-2034.

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