03.05.2016 22:24:00

Parkway Properties, Inc. -- Moody's places Parkway on review for downgrade

New York, May 03, 2016 -- Moody's Investors Service has placed the Baa3 issuer rating of Parkway Properties, Inc. on review for downgrade. This rating action follows the announcement on April 29, 2016 that Parkway is merging with Cousins Properties in an all-stock transaction. Simultaneous to the office REITs' merger, the REITs will spin-off their combined Houston assets into a separately traded public REIT. The transactions are expected to close in the fourth quarter of 2016.

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