Fitch assigns BBB- to Hudson Pacific

Fitch Ratings said it assigned an initial issuer default rating of BBB- to Hudson Pacific Properties, Inc. and its operating partnership Hudson Pacific Properties, LP.

The outlook is stable.

Fitch's said the ratings reflect Hudson’s strong competitive market position in select densely populated and supply constrained office markets in Northern and Southern California and the Pacific Northwest. These markets have favorable demographics that include population growth, vibrant, highly educated work forces and above average household income levels.

The company's sizable unencumbered asset pool and appropriate leverage and fixed-charge coverage metrics for the rating are additional credit strengths, the agency said.

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