“The ‘AA-‘ rating reflects our assessment of Piedmont’s solid enterprise profile in a competitive and consolidating market and its stable and financial profile, highlighted by operating margins in excess of 5 percent for the past two fiscal years and historical pro forma maximum annual debt service greater than 5 times,” said an S&P analyst.
The outlook is stable, reflecting S&P’s view of Piedmont’s solid enterprise profile and healthy financial profile.
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