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S&P downgrades Office Properties Income Trust notes to ’D’ after missed payment

Published 17/10/2025, 20:30
© Reuters.

Investing.com -- S&P Global Ratings has downgraded Office Properties Income Trust’s senior unsecured notes due 2031 to ’D’ from ’CC’ after the company missed an interest payment.

The rating agency maintained the ’5’ recovery rating on the notes.

Office Properties Income Trust (NASDAQ:OPI) failed to make a required interest payment of approximately $1.8 million on its 3.45% senior unsecured notes due 2031 that was due on Tuesday.

S&P Global Ratings stated it does not expect the company to make the interest payment within the 30-day grace period, citing OPI’s weak liquidity position and debt obligations.

The company is currently working with advisers on restructuring efforts, according to S&P.

The ’SD’ (selective default) issuer credit rating and other issue-level ratings remain unchanged. S&P indicated it will reassess its ratings on Office Properties Income Trust once more information about the company’s plans becomes available.

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