The rating assignment is based on Lexington’s continued trend of strong operating performance and balance sheet growth. Lexington also faces several challenges, including its position in a competitive market landscape.
The outlook is stable, reflecting Moody’s Investors Service’s expectation that Lexington will continue to generate solid operating performance and maintain an adequate cash position at the “A1” rating level.
Moody’s also affirmed the “A1” rating on Lexington’s outstanding debt.
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