LOS ANGELES–Debt-rating giant Standard & Poor’s has affirmed its triple-B-minus rating on Southland office giant Arden Realty Inc. and its operating partnership, Arden Realty LP, saying the outlook for both entities is “stable.”

The same rating was also affirmed for the LA-based REIT’s senior unsecured debt, New York-based S&P says. Arden is one of the region’s largest office landlords, with more than 18 million sf of Southern California real estate in its portfolio.

“The ratings reflect the company’s good business position in favorable markets, while embedded growth in Arden’s portfolio currently supports solid debt coverage measures,” Standard & Poor’s said in a statement. The rating agency characterized Arden’s leverage as “moderate” and its debt coverage “strong.”

Arden Realty’s stock, traded on the New York Stock Exchange under the symbol ARI, was unchanged late Monday at about $24.50, not far from its 52-week high of $27.12. The REIT is expected to report its third-quarter earnings tomorrow.

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